CPO futures rebounded from yesterday sharp fall

CPO futures rebounded from yesterday sharp fall to end generally higher on short covering activities and on expecting of higher export number for 1-25 July which scheduled to release by private cargo surveyors tomorrow. Market is talking about 1.1 million tonne. Last month (1-25 June) was at 899k (ITS) and 926k (SGS).

FCPO reversed from yesterday losses on technical rebound

Bear took a breathe after yesterday sharp losses. Technical rebound saw FCPO prices reversed to close off high. Immediate support is pegged at 3027 and resistance is at 3211-3225 (gap left over on 23rd Jul, 2008).

Consolidation phase in FKLI

FKLI broke the immediate resistance at 1146 and surged to the intra-day high at 1148.5 before easing off to end in negative territory. Looks market may consolidate further in near term. We now looking at the resistance and support at 1159 and 1110-1109 (gap left over on 23rd Jul, 2008) respectively.

KLSE close to stay firm

Buying support continue after yesterday violated the immediate downtrend line and saw KLSE to close firm today. Consolidation phase may extend in near term. We look for the upside resistance of 1153.3. Support is pegged at 1116.14-1112.51 (gap left over on 23rd Jul, 2008).

Comex Gold: chances to challenge 1000 mark looks gloomy

Chances to challenge 1000 mark looks gloomy as prices finish in lower end with long black candle for the last two trading session. Chart wise, it had penetrated the immediate up-trend line follow by a gap down left over yesterday. Some kind of reversal top had formed. Hence, may face some selling pressure in near term.

Technical rebound on FCPO

Technical rebound after yesterday steep fall down. We continue to look for the support at 3027. Resistance is at 3140-3150.

Market tone: weak

FKLI in consolidation mode

FKLI may continue to move in consolidation mode in near term. Continue to look for the resistance at 1159 while support is at 1120-1125.

Market view: sideways to higher

KLSE retreat after yesterday sharp rebound

KLSE retreated after yesterday sharp rise and market may enter to a consolidation phase in near term before starting a new direction.

Market tone: sideways to higher

Breaking News-RTRS-Malaysia CPI a shocking 27 year high 7.7% y/y in Jun

Trader's Highlight

DJI-NEW YORK, July 23 (Reuters) - U.S. stocks rose on Wednesday as financial shares climbed on hopes lawmakers will approve a rescue plan for mortgage finance companies Fannie Mae and Freddie Mac and as the price of oil fell.The Dow Jones industrial average <.DJI> rose 29.88 points, or 0.26 percent, to 11,632.38, while the Standard & Poor's 500 Index <.SPX> gained 5.11 points, or 0.40 percent, to 1,282.11, a three-week closing high. The Nasdaq Composite Index <.IXIC> was up 21.92 points, or 0.95 percent, at 2,325.88.

NYMEX-NEW YORK, July 23 (Reuters) - U.S. crude oil futures ended at a six-week low on Wednesday, extending losses for a second straight day, as large builds in gasoline and distillate stocks trumped a bigger-than-forecast draw in crude supplies.New front-month September crude settled down $3.98, or 3.1 percent, at $124.44 a barrel, the lowest since the June 4 settlement of $122.30.

CBOT-SOYBEANS - Down 20 to 25-1/2 cents per bushel, with August down 22-1/2 at $13.94-1/4 per bushel.Good U.S. crop weather, strong dollar and falling crude oil weigh on soy prices. Prospects for Argentina to export more soy and soy products following Argentine government decision late last week to scrap a hike in soy export taxes also bearish for U.S. soy.

SOYOIL - Down 1.35 to 1.67 cents per lb, with August down 1.58 at 58.55 cents per lb.

FCPO-KUALA LUMPUR, July 23 (Reuters) - Malaysian crude palm oil futures plummeted nearly 7 percent to hit 8-month lows as profit-taking in crude oil swept through allied vegetable oil markets amid rising global inventory levels.The benchmark October contract on the Bursa Malaysia Derivatives Exchange ended down 225 ringgit at 3,027 ringgit ($934) per tonne, the lowest since December 24.

REGIONAL EQUITIES-Most Southeast Asian stock markets climbed on Wednesday as a further dip in oil prices eased inflation fears.

Singapore's benchmark index <.FTSTI> leapt 3.1 percent to its highest in four weeks, while Malaysia <.KLSE> gained 2.7 percent.The Philippine index <.PSI> added 2.2 percent, Thailand <.SETI>rose 1.7 percent while Jakarta <.JKSE> edged up 0.6 percent.

DJI remains positive posture

Technical landscape on daily DJI remains positive. Market may continue to move sideways to higher in near term. Look for the resistance at 11808.73, while support at 10827.71.