OSK - Technical Analyzer_FKLI FCPO_20131230_RHB Retail Research

MBB -

No major bullish influence are in sight from overseas substitute soybean oil prices and with good soybean production expectations in Brazil and Argentina on ideal weather conditions, the market is expected to be slightly subdued due to the coming year end holiday.
Technically, we see a possibility of another sideways to minor downward correction on buying reservations to higher price. Immediate support is pegged at RM 2,620 and the next support at RM 2,605. Resistance level likely to cap prices is between RM 2,640 to RM 2,653.
Market view: Strong buying interest may surface on price dip. Going forward, the general view is that the market is consolidating for another potential upside wave breakout.

FCPO Daily Commentary - FCPO301213

Catatan:

  • Dalian SoyOil Mar14 – naik 44 point
  • Dalian Palm Oil Jan14 – naik 100 point
  • CBOT SoyOil Mar14 – naik 0.14%
Hari ini buka jam 10.30 gaps
  • BUY jam 10.32 pada 2640
  • SELL jam 11.05 pada 2643
Charts
TF60M
301213Trend dah mula berubah ke bearish
  • MACD < 0
  • CCI < 0
  • Close di bawah MA(13) & MA(21)

TF5M

301213_TF5M

 

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