Bulls were clearly dominant for the day as price broke out above the nearest psychological resistance of RM 2,600 on a bullish candlestick pattern, perhaps influenced by the weaker ringgit factor.

Strong market sentiments could force bears to take cover which may push price to the next higher resistance seen at RM 2,640. Nearest support is pegged at RM 2,590. For the market to be confirmed as bullishly intact, price must hold firm above this level by the close.

In a price ascend, intermittent price corrections on mild profit taking is expected as a normal feature.

Market view: Sideways to upward thrust potential seen on short-covering activities ahead of the week-end.

FCPO Daily Commentary -FCPO240114


Petunjuk Pasaran Luar 

Open Last Beza Peratus
Dalian Soybeans
Dalian Soybean Oil  6650  6660  0  %
Dalian Palm Oil  5860  5862  20
CBOT Soybean Oil  37.86 37.96  0.13 0.34 %






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