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FCPO Trading Room
- Thread starter Bateleur
- Start date
Bateleur
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Assallamualaikum warahmatullahi wabarakatuh
Analisa Crude Palm Oil Futures (FCPO) 22 Safar 1438
Technical
Crude palm oil futures traded at Bursa Malaysia Derivatives rose higher lifted by Ringgit weakness and positive cues from Soybean oil and China’s Palm futures prices.
The benchmark February contract delivery jumped 1.74% added RM50 to settle at 2,919 ringgit per metric ton. Total volume recorded at 43,561 lots while open interest rose to 194,344 contracts from 192,146 contracts the previous trading day.
Market action saw price rebounded from recent correction and showing sign of continued uptrend towards the 3,000 price level. The edible oil trends above the 20 and 40 days moving average line indicating upside intact – positive
Market is also healthy on the medium to longer term view with price above the 50 and 100 days MA line – positive
Market approaches the Upper Bollinger Band at 2,948 serving as resistance to any further rallies – neutral to negative
RSI momentum creeps up at 61.7 indicating comeback of buying momentum – neutral to positive
Positive cues from Soybean oil price overnight boosted by export growth expected to overflow into market at opening today. However caution to Long position holders as market upside might be capped and struggle to hold on to gains. Buy for quick profits before a volatile swing down is expected providing movement for day traders.
Fundamental
Palm futures climb to one-week high as Ringgit extends drop –neutral to positive
Malaysia Palm shipments to India slumps after currency ban – neutral to negative
Soy Futures rise most in three months as China demand for meal grows – Soybean Oil January contract rose 1.8% to USD 34.93 cents per pound – positive
Oil rises to three week high amid OPEC deal optimism – neutral to positive
Intertek: Exports drop 8.2% to 734,800 tons from 800,854 tons during the 1-20 day period of October. SGS reported 9.4% for the same period
Resistance : 2,948 and 2,963 with further up at 2,976
Support looks peg at 2,907 and 2,897 before the 10 days MA line 2,875.
SELAMAT BERDAGANG!
Analisa Crude Palm Oil Futures (FCPO) 22 Safar 1438
Technical
Crude palm oil futures traded at Bursa Malaysia Derivatives rose higher lifted by Ringgit weakness and positive cues from Soybean oil and China’s Palm futures prices.
The benchmark February contract delivery jumped 1.74% added RM50 to settle at 2,919 ringgit per metric ton. Total volume recorded at 43,561 lots while open interest rose to 194,344 contracts from 192,146 contracts the previous trading day.
Market action saw price rebounded from recent correction and showing sign of continued uptrend towards the 3,000 price level. The edible oil trends above the 20 and 40 days moving average line indicating upside intact – positive
Market is also healthy on the medium to longer term view with price above the 50 and 100 days MA line – positive
Market approaches the Upper Bollinger Band at 2,948 serving as resistance to any further rallies – neutral to negative
RSI momentum creeps up at 61.7 indicating comeback of buying momentum – neutral to positive
Positive cues from Soybean oil price overnight boosted by export growth expected to overflow into market at opening today. However caution to Long position holders as market upside might be capped and struggle to hold on to gains. Buy for quick profits before a volatile swing down is expected providing movement for day traders.
Fundamental
Palm futures climb to one-week high as Ringgit extends drop –neutral to positive
Malaysia Palm shipments to India slumps after currency ban – neutral to negative
Soy Futures rise most in three months as China demand for meal grows – Soybean Oil January contract rose 1.8% to USD 34.93 cents per pound – positive
Oil rises to three week high amid OPEC deal optimism – neutral to positive
Intertek: Exports drop 8.2% to 734,800 tons from 800,854 tons during the 1-20 day period of October. SGS reported 9.4% for the same period
Resistance : 2,948 and 2,963 with further up at 2,976
Support looks peg at 2,907 and 2,897 before the 10 days MA line 2,875.
SELAMAT BERDAGANG!
Bateleur
Active Member
- Messages
- 1,514
- Joined
- Sep 22, 2015
- Messages
- 1,514
- Reaction score
- 107
- Points
- 33
cee terangkan sikit Tuan..
Apapun ..disiplin no.1 dan selalu jadi penentu
method saya dah 3 hari loss
saja nak luahkan perasaan hehe
very low volume today...kenapa agaknya ya:-?
