Bear won the battle on KLSE

KLSE tumbled and close at year low at 1119.42. Market momentum getting weaker and targeting support at 1090.39 in near term. Resistance is at 1147.72-1153.30.

Market tone: weak

FKLI eyeing 1083

Market remains bearish and is targeting the recent low at 1083 in near term.

Market view: hold short with buy stop at 1125-1130

FCPO violated 3,500 levels

Market violated the immediate support at 3500-3490 and closed at day low. Currently, look for the support at 3435-3430. While, resistance is at 3560-3580.

FKLI break 1100 and likely to test 1083

FKLI break the immediate support at 1100-1099. Market may target for the recent low at 1083.

Market View: Hold short with buy stop 1125.

*NEW* COMEX Gold futures looks set to challenge 1000 mark

Chart looks pretty strong and well supported after 3 bottom set between 850-870 level. Prices began to run-up after the last bottom set at around 860 level. Then, it rally with 2 gaps-up(common gaps and breakaway gap) and broke the overhead resistance level between 940-945. With this strong performance, prices may want to challenge the 1000 mark.

3,500 remains supportive for FCPO

Consolidation mode continue in FCPO with 3,500 levels defended well.

FKLI 1100-1099 defended well

FKLI hourly recovered with support at 1100-1099 was defended well at time being.

Market view: short if market break 1100-1099.

KLSE hourly is hovering

KLSE hourly is hovering between 1129.97 to 1123.12.

Breaking News-Oil World

Indonesia-July 15 (Reuters)-The sharply higher exports so far this year are a strong indication that Indonesian palm oil output in Jan/Dec 2008 will turn out above our latest estimate of 18.8 million tonnes compared with 17.0 in 2007-Hamburg-based oilseeds analysts Oil World said on Tuesday.

Argentine-July 15 (Reuters) - Argentine soybean stocks at end-June 2008 rose to around record levels as crushings fell due to a dispute between the country's farmers and the government, Hamburg-based oilseeds analysts Oil World said on Tuesday. It estimated that Argentina's June 30 soybean stocks rose to 36.0 million tonnes, up by 800,000 tonnes on the year despite a smaller soybean crop in 2008.

Trader's Highlight

DJI-NEW YORK, July 15 (Reuters) - Global stocks fell sharply on Tuesday, knocked lower by growing fears over the outlook for banks, but a big drop in oil prices eased the slide in equity markets and slowed the flight to the safe-havens of gold and government debt.The Dow Jones industrial average <.DJI> slid 93.47 points, or 0.85 percent, at 10,961.72. The Standard & Poor's 500 Index <.SPX> fell 13.34 points, or 1.09 percent, at 1,214.96. The Nasdaq Composite Index <.IXIC> added 2.84 points, or 0.13 percent, at 2,215.71.

NYMEX-NEW YORK, July 15 (Reuters) - U.S. crude oil futures ended more than 4 percent lower on Tuesday, after posting their largest price fall in 17 years, as traders took profits after stock prices tumbled on deepening economic worries.August crude settled down $6.44, or 4.44 percent, at $138.74 a barrel, trading between $135.92 and $146.73.

CBOT-SOYBEANS - August down 40 cents at $15.42 per bushel, new-crop November down 43 at $15.16. Plunged following sell-off in crude oil. Soy market underpinned by tension among Argentine farmers about the government tax on farm exports.

SOYOIL - August down 0.76 at 63.03 cents per lb Following declines in crude oil and soybeans.

FCPO-KUALA LUMPUR, July 15 (Reuters) - Malaysia crude palm oil futures rose 0.7 percent on Tuesday as players looked beyond dismal export data from cargo surveyors, saying overseas demand will recover soon due to the looming Asian festive season.The benchmark September contract on the Bursa Malaysia Derivatives Exchange settled up 26 ringgit at 3,550 ringgit ($1,103) per tonne.

Regional equities-Most Southeast Asian markets tumbled on Tuesday as investors fled equities on fears of banks'exposure to troubled U.S. mortgage lenders, with Thai stocks falling to their lowest in 15 months.

Thailand's benchmark SET <.SETI> slid 3.3 percent while Singapore <.FTSTI> dropped 2.5 percent.Indonesia <.JKSE> lost 2 percent, Malaysia <.KLSE> eased 1.4 percent and the Philippine index <.PSI> surrendered 1.8 percent,but Vietnam <.VNI> bucked the trend to gain for a fifth straight day, rising 2.5 percent.

DJI closes below 11,000 for first time in 2 years

A long lower shadow candle violated the 11,000 mark for the 1st time in 2 years had dampened further the already weak DJI daily technical landscape.