FKLI to consolidate above 1530 level.

FKLI (Daily Chart)

The index futures has seen making a top at the 1580 level failing to travel ahead of the key resistant at 1580 level. A sharp pullback has been seen amid profit taking towards the end of the week although regional indexes was doing well. Immediate support is seen to be stalling at 1530 while immediate resistant would have been at the 1580 level. The index would be expected to stay above the 1530 level to resume its upside in near future.

Immediate Resistant : 1580

Immediate Support : 1530

FKLI potentially runs through the roof ?

FKLI (Daily Chart)



The index futures has ended the year at 1521.5 recording a rise of 255 points or 20.13% equivalent. In fact, index futures recorded the highest year end close of the year this time around. Amid the upcoming speculation on election at the sideline, prices has been trying to shoot through the roof taking off the resistant over and over again. While prices has been mingling near the resistant, the proceeding month futures has been trading at a 1527 as compared to the underlying FBM30 which is currently trading at 1518.76. The obvious premium over the underlying suggest that the overall market players are relatively optimistic over the market in the early of year 2011. However, taking into account the strong resistant at 1530 region, both bets on the short and long is possible with a decisive stop in place.

Immediate Resistant : 1532

Immediate Support : 1520

FCPO ended year in a strong position

FCPO (Daily Chart)

FCPO 3rd month benchmark contract closed the year at 3788 recording a hike of 1125 points or 42.24% equivalent. Amid the recovery of major economies throughout the world, commodity prices has rise to a new platform forming solid grounds for major commodity prices. The average benchmark futures price for palm oil is at 2714. Palm oil prices was considerably stable in prices throughout the 1st half of the year and started its rally towards the 2nd half of the year. Moving forward, palm oil prices could still rally amid the stabilizing of the Ringgit.

*FCPO is ringgit denominated.

Immediate Resistant : 3900

Immediate Support : 3480



FCPO to hurdle higher

FCPO (15 mins chart)



FCPO has made a fair bit of consolidation for 3 days shedding approximately 280 points or 7.4% equivalent since the top of 3766. The consolidation has been countered with a fast pullback towards the 3630 amid stronger outlook towards CPO pricing. CPO immediate outlook is still strong while 3766 would be a key resistant to be taken over before spearheading to the next level. Cautious long is recomended where stops are to be place near the 3600 level.

Immediate Resistant : 3700

Immediate Support : 3630

FKLI to sideway until witnessing a Breakout

FKLI (15 mins chart)

The index futures recently  broke is downtrend line pushing the way off the critical selling zone. Upon then, the futures has been priced on a premium over the index (underlying). Amidst uncertainty on the economics forecast over the coming year while uncertainty in events over the tensions among countries lately could also create volatility in the market. Index futures hsa been performing considerably good but yet to claim over the previous high. Immediate outlook remain positive over the market.

Immediate Resistant : 1522.5

Immediate Support : 1485

FKLI to consolidate

FKLI (15mins chart)

Index futures has been consolidating along the downtrend line drawn. Immediate outlook on futures is to trade lower throughout the week with a trailing stop along the downtrend line. Regional outlook has been neutral to mere positive while futures pricing tend to observe the downtrend line in the near term. Longer term outlook still remain bullish.

Immediate Resistant : 1515

Immediate Support : 1495

FCPO strong throughout the week

FCPO (weekly Chart)

The benchmark price of crude palm oil(CPO) recorded a 4 days up and 1 day down throughout the week closing the week 3516 points, up 242 points, a 7.4% month on month. CPO prices has been heading higher month over month since the ascending triangle breakout on October. CPO are expected to remain strong and volatile at least in the near term amid agressive speculations. Open interest was higher compared to the week before signalling stronger outlook from the market players.

Resistant : 3550

Support : 3450

KLCI consolidates throughout the week on a healthy mode

FKLI (15 minutes chart)

The FKLI made a breakout of the consolidation on the 15 minutes chart. However, resistance is found at 1510 bringing prices lower and close at 1501 for the week. The short term downtrend line has been violated while it doesnt suggest a strong up trend ahead. However, overall sentiment is relatively upward bias though.

Immediate resistant : 1510

Immediate support : 1492

FKLI (weekly chart)

A longer term outlook on the index futures signal that consolidation still remain as an option amid the previous strong upward momentum. The medium term uptrend line has yet to be violated therefore reserve the option for a downtrend in near term.

FBMKLCI and futures on consolidation

FBMKLCI (daily chart)

FBMKLCI been consolidating after the recent run up weeks ago. There is no clear sign whether the FBMKLCI would do a breakout in the near term just yet. FBMKLCI is expected to mingle within the range of 1478 and 1500. Immediate support stood at 1478 and a psychological resistant stood at 1500.

FBMKLCI (15 minutes chart)

FBMKLCI has been giving way to the downtrend line amid a healthy correction on previous run up. Lower highs are being observed while lower lows are yet to dominate the scene. It is being suspected that a descending triangle could form as time passses and a breakout would be seen in near future.

Immediate support : 1476

FKLI (15 minutes chart)

Index futures(FKLI) has been observing the range and trades within the high 1488.5 and low of 1470.5. A descending triangle is seen to be forming. A breakout upon the descending triangle would trigger new open interest in the market.

Immediate Resistant : 1502, 1508

Immediate Support : 1482, 1467

Failure for FBMKLCI gain momentum on the upside.

FBMKLCI (15 minutes chart)

FBMKLCI has been in the negative territory throughout the day after Dow recorded a loss of 39.51 to close at 11052.49. FBMKLCI close day low at 1485.23 recording a loss of 10.72 points reversing 0.72% of the market cap. Among the biggest loss in % on the index linked counters are YTLPOWR, MAYBANK and PPB with a loss of 1.98%, 1.96% and 1.65% respectively.

A new downtrend line emerge as prices extends. The new downtend line seem to still be intact although it has been tested over and over again for the past few days.

Immediate support for FBMKLCI is viewed to be at 1476 at this juncture.

FKLI (15 minutes chart)

FKLI opened low amid Dow's overnight weak performance and traded below yesterday's closing throughout the whole day. December futures traded 6.5 points discount over the spot month future where the spot month future settle at 1488.5. Immediate support is to lie at 1467.5 where breaking this low would probably attract new selling interest.

Immediate resistance : 1502, 1508

Immediate support : 1482, 1467