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Assallamualaikum warahmatullahi wabarakatuh
Analisa Crude Palm Oil Futures (FCPO) 21/12/2016
Technical
Crude palm oil futures traded at Bursa Malaysia Derivatives, gapped down and settled near day low. FCPO continue to moved lower and reversing last week’s gains.
The benchmark March 2017 contract fell 49 ringgit to settled at 3,093. A rise in market participation as the total volume increased to 36,626 lots, compared to previous session at 31,018 lots. Open interest rose slightly to 197,007 contracts from 196,741 contracts the previous trading day.
Market action saw price being pressured by seller on both morning and afternoon session.
Market traded below 10days moving average but supported by 20days moving average.
RSI momentum level at 56.3 signals the fading buying strength.
The market is expecting to open lower, tracking the overnight losses in the soy oil market. Price might be supported by 20days moving average at 3085, then follow by 3051, further down is 3017. As for resistance, a break above 10days moving average at 3130 could see buyers returning to the market, follow by 3165, then further up will be the previous high of 3202.
Fundamental
Palm oil being pressure by weakening rival oils and poor export data. – Negative
Palm oil export by cargo surveyors ITS and SGS showed a drop of 14.4% and 16.9% for Dec 1-20. – Negative
CBOT soybean oil futures fell 1.36% to 36.35 cents/lbs due to rain aids South American crops. - Negative
Crude oil price rose as API reported a decline of 4.2million barrels in U.S crude stockpiles, but settled off the session highs after Libya announce of reopening its pipelines
Bagaimana trading kawan kawan CG
Didoakan semua untung.
takde ke yang nak pos graf fcpo ni? mana tau kot2 boleh study sikit2
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