20100602 1811 FCPO EOD Daily Chart Study.

FCPO closed : 2468, changed : +8 points, volume : higher.

Bollinger band reading : side way range bound downside biased.
MACD Histrogram : rising higher, seller back off as buyer getting aggresive.
Support : 2450, 2400, 2370 level.
Resistant : 2470, 2500, 2521 level.
Comment :
Improved volume 22 points range FCPO continue trade higher today after soy oil staying firm at the current price level. Daily chart shows that market tested above the middle Bollinger band and the plotted downward trendline resistant level but still closed below it with the reading suggesting a side way range bound little downside biased.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20100602 1742 FKLI EOD Daily Chart Study.

FKLI closed : 1279.5, changed : +7 points, volume : lower.
Bollinger band reading : correction side way downside biased.
MACD Histrogram : recovering, seller reducing exposure.
Support : 1274, 1270, 1265 level.
Resistant : 1280, 1290, 1300 level.
Comment :
Smaller range wild swing FKLI managed to closed higher recover partial of yesterday losses in lesser volume traded. Daily chart reading remain unchanged with a correction side way range bound downside biased market but having said that, FKLI is doing 3.5 points premium compare to cash market. The same goes to Hang Seng index futures market.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant/strength/breakdown with larger cut loss and profit target.

20100602 1425 Global Economic News.

U.S: Manufacturing holds up in May. The Institute for Supply Management’s gauge fell to 59.7 from 60.4 in April. Readings greater than 50 point to expansion. Another report showed spending on construction projects rose in April by the most since 2000. (Source: Bloomberg)

Germany: Unemployment falls twice as much as forecast in May as exports from Europe’s biggest economy surged, bolstering the recovery. The number of people out of work declined a seasonally adjusted 45,000 to 3.25 million, the lowest since December 2008. The adjusted jobless rate fell to 7.7% from 7.8%. (Source: Bloomberg)

China: Manufacturing expansion slows in May as growth cools. The Purchasing Managers’ Index fell to 53.9 from 55.7 in April. A separate index released by HSBC Holdings Plc and Markit Economics fell to 52.7, the lowest level in a year. (Source: Bloomberg)

S. Korea: Exports climb for seventh straight month in May. Overseas shipments rose 41.9% YoY to USD 39.5b. Imports climbed 50% YoY to USD 35.1b, leaving a trade surplus of USD 4.4b. (Source: Bloomberg)

Indonesia: Inflation accelerates less than forecast in May. Consumer prices rose 4.16% YoY last month after gaining 3.91% YoY in April. (Source: Bloomberg)

Australia: Keeps rate at 4.5% to gauge market turmoil. Australia’s central bank left its benchmark interest rate unchanged and signaled it may keep borrowing costs steady in coming months as it assesses the impact of the most aggressive rate increases in the Group of 20. (Source: Bloomberg)

Australia: Retail sales rise at double estimated pace in April. Sales increased 0.6% MoM from March, when they rose a revised 0.8% MoM. (Source: Bloomberg)

20100602 1422 Malaysia News and Updates.

Bursa Malaysia: COO quits. Bursa Malaysia’s chief operating officer (COO) Omar Merican resigned yesterday after almost five years with the company. (Source: Business Times)


Kenmark: Under SC probe. The Securities Commission Malaysia (SC) is investigating Kenmark Industrial Co (M) Bhd following its non-submission of financial statements, default in payments and missing directors. It was reported yesterday that the deputy general manager and finance and administration manager had also resigned. (Source: The Star)

Politics: Cabinet reshuffle announced. MCA president Datuk Seri Ong Tee Keat and party central committee member Datuk Wee Jeck Seng have been dropped from the cabinet line-up. Prime Minister Datuk Seri Najib Razak has named Datuk Chor Chee Heung as housing and local government minister. The incumbent housing and local government minister, Datuk Seri Kong Cho Ha has been appointed as transport minister. Their appointments are effective this Friday.

Other appointments include:
Chua Tee Yong (deputy minister of Agriculture and Agro-based Industry)
Datuk Donald Lim Siang Chai (deputy minister of Finance)
Senator Gan Ping Sieu (deputy minister of Youth and Sports)
Senator Heng Seai Kie (deputy minister of Women, Family and Community Development)
Senator Datuk G. Palanivel (deputy minister of Plantation Industries and Commodities)
Datuk Rohani Abdul Karim (deputy minister of Domestic Trade, Cooperatives and Consumerism)
Senator Datuk Maglin Dennis D’Cruz (deputy minister of Information, Communication and Culture)
Datuk Richard Riot (deputy minister of Foreign Affairs)
Jelaing Ak Meersat (deputy minister of Transport)
Datuk Lee Chee Leong (deputy minister of Home Ministry) (Source: New Straits Times)

20100602 1325 FKLI Mid Day Hourly Chart Study.

FKLI closed : 1275, changed : +2.5 points, volume : moderate.
Bollinger band reading : side way range bound little downside biased.
MACD Histrogram : reverse lower, buyer and seller battling.
Support : 1274, 1270, 1265 level.
Resistant : 1280, 1290, 1300 level.
Comment :
8 points range market FKLI first session ended slightly higher with sustainable volume traded. Hourly chart shows a side way range bound litle downside biased market.

20100602 1323 FCPO Mid Day Hourly Chart Study.

FCPO closed : 2465, changed : +5 points, volume : low.
Bollinger band reading : side way range bound little downside biased.
MACD Histrogram : getting higher, buyer testing market.
Support : 2450, 2400, 2370 level.
Resistant : 2470, 2500, 2521 level.
Comment :
14 points range FCPO traded marginally higher in less volume changed hand after market opened and traded higher testing resistant level. Hourly chart reading suggesting a side way range bound little downside biased market development.

20100602 0842 Soy Oil Futures Commentary.

Soyoil futures ended lower, following the two-sided price action of soybeans and crude oil futures. Ample supplies and sluggish demand served as fundamental weakness for the market as well, said Allendale Inc's John Kleist. July soyoil settled 0.09 cent, or 0.08%, lower at 37.52 cents per pound. (CME)