Commentary
OSK - Technical Analyzer_FKLI FCPO_20140123_RHB Retail Research
MBB-
The market has reached an equilibrium level where bulls and bears are locked in battle but are evenly matched and will fight it out until 1 side emerge victorious.
Nearest resistance at RM 2,600 seem to cap market gains for the moment while support is pegged at RM 2,550. Prices are expected to hug between these 2 levels until a significant breakout occurs on high volume.
Overseas soybean oil price influence is seen as neutral going nowhere. Strong buying interest could take a short breather encouraging bearish interest to try an intraday bear raid.
Market view: Mix sentiment trading viewed bias to slightly lower. We see trading to alternate between selling near resistance level and buying on a sharp dip within the nearest resistance and support levels mentioned.
FCPO Daily Commentary FCPO230114
TF60M
TF5M
Catatan
Views – 196
COMMENTARY 230114
Commentary
OSK - Technical Analyzer_FKLI FCPO_20140123_RHB Retail Research
MBB-
The market has reached an equilibrium level where bulls and bears are locked in battle but are evenly matched and will fight it out until 1 side emerge victorious.
Nearest resistance at RM 2,600 seem to cap market gains for the moment while support is pegged at RM 2,550. Prices are expected to hug between these 2 levels until a significant breakout occurs on high volume.
Overseas soybean oil price influence is seen as neutral going nowhere. Strong buying interest could take a short breather encouraging bearish interest to try an intraday bear raid.
Market view: Mix sentiment trading viewed bias to slightly lower. We see trading to alternate between selling near resistance level and buying on a sharp dip within the nearest resistance and support levels mentioned.
FCPO Daily Commentary FCPO230114
TF60M
TF5M
Catatan
Views – 196