Bateleur
Active Member
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- Sep 22, 2015
- Messages
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Assallamualaikum warahmatullahi wabarakatuh
Analisa Crude Palm Oil Futures (FCPO) 04/01/2017
Technical
Crude palm oil futures traded at Bursa Malaysia Derivatives jumped 1.7% on the first day trading of year 2017, as ringgit weaken further and concern over production due to heavy rain and floods.
The benchmark March 2017 contract rose 54 ringgit to settled at 3,163. A increase in market participation as the total volume rose to 43,665 lots, compared to previous session at 42,869 lots. Open interest increased to 202,381 contracts from 198,648 contracts the previous trading day.
Market action saw prices gapped up and continue to move higher throughout the day. - Positive
Market gapped up and open above 10days and 20days moving average, but upside might be capped at upper band 3191 - Neutral to Positive
RSI momentum level at 61.1, indicates upside momentum. - Neutral to Positive
The market is expecting to be trading sideway bias upside, supported by lower production and weaker ringgit. Price could be supported at middle band 3120, then follow by 3100, further down is at 3088. As for resistance, located at upper band 3191, follow by 3,202, then further up will be the previous high of 3242.
Fundamental
Palm oil rebounded on the concern of year end rains from monsoon season which would disrupt the fruit-harvesting process and weaker ringgit could boost export demand. – Neutral to Positive
CBOT soybean oil futures ended 0.43% higher to 34.81 cents/lbs. - Neutral to Positive
Oil falls from 18-month high amid Dollar gains, OPEC doubts - neutral

Analisa Crude Palm Oil Futures (FCPO) 04/01/2017
Technical
Crude palm oil futures traded at Bursa Malaysia Derivatives jumped 1.7% on the first day trading of year 2017, as ringgit weaken further and concern over production due to heavy rain and floods.
The benchmark March 2017 contract rose 54 ringgit to settled at 3,163. A increase in market participation as the total volume rose to 43,665 lots, compared to previous session at 42,869 lots. Open interest increased to 202,381 contracts from 198,648 contracts the previous trading day.
Market action saw prices gapped up and continue to move higher throughout the day. - Positive
Market gapped up and open above 10days and 20days moving average, but upside might be capped at upper band 3191 - Neutral to Positive
RSI momentum level at 61.1, indicates upside momentum. - Neutral to Positive
The market is expecting to be trading sideway bias upside, supported by lower production and weaker ringgit. Price could be supported at middle band 3120, then follow by 3100, further down is at 3088. As for resistance, located at upper band 3191, follow by 3,202, then further up will be the previous high of 3242.
Fundamental
Palm oil rebounded on the concern of year end rains from monsoon season which would disrupt the fruit-harvesting process and weaker ringgit could boost export demand. – Neutral to Positive
CBOT soybean oil futures ended 0.43% higher to 34.81 cents/lbs. - Neutral to Positive
Oil falls from 18-month high amid Dollar gains, OPEC doubts - neutral
