MBB
CPO February futures closed RM 15 a ton lower at RM 2,641 in a sideways trading pattern, taking a breather from previous day’s rally on slightly lesser across the board volume of 27,711 lots changing hands.
Some fundamental concerns about higher stocks outlook capped the advance while worries of lower production due to extreme weather cushioned the decline. Technically though, February contract price is well-supported above the 20 period simple moving averages with no bearish signal. As such, there are possibilities for the market to re-test the recent highs now or later.A breakout above the nearest resistance pegged at RM 2,662 is deemed as having further upside potential while a decline below RM 2,619 at the close will depict bearish tendencies.
Market view: Price is expected to move indecisively sideways within a tight choppy day-trading range as market forces appears to be evenly matched.FCPO Daily Commentary FCPO06122013
OSK
Technical Analyzer_FKLI FCPO_20131206_RHB Retail Research
Comment Me:
TREND UP
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Commentary 061213
MBB
Some fundamental concerns about higher stocks outlook capped the advance while worries of lower production due to extreme weather cushioned the decline. Technically though, February contract price is well-supported above the 20 period simple moving averages with no bearish signal. As such, there are possibilities for the market to re-test the recent highs now or later.A breakout above the nearest resistance pegged at RM 2,662 is deemed as having further upside potential while a decline below RM 2,619 at the close will depict bearish tendencies.
OSK
Technical Analyzer_FKLI FCPO_20131206_RHB Retail Research
Comment Me:
TREND UP
TF30M
Open BUY pada 2650.00 3.30 ptg
TF1D
Views – 224