Trader's Comment: CPO futures ended easier but off low on pre-weekend

CPO futures ended easier but off low on pre-weekend short-covering activities emerged. Market today was more or less under selling pressure tracking overnight losses in CBOT and e-CBOT in Asian time zone. NYMEX crude oil also trading in negative tone. Benchmark Nov 08 settled RM 40 lower at 2470 after trading between 2472 to 2414. Total daily volume was good with 15,838 contracts changed hands. BMD launched its USD CPO futures (FUPO) today with lacklustre activities. Only spread between Nov 08/Dec 08 traded at -2.50 points.

FCPO Weekly: in sideways move

Market moves in sideways. We continue to look for the immediate support at 2351-2314. While, resistance is at 2753-2764.

FKLI Weekly: Failed to defend at 1045.5

Market failed to defend at 1045.5 and close with fresh year low had dampened further the technical landscape. Thus, downtrend is likely to continue in near term. As for now, we look at the downside support at 970-960. For upside, resistance is pegged at 1110-1120.

KLSE Weekly: Remains in bearish atmosphere

Market remains in bearish atmosphere as prices close weak. We watch out closely the underline support at 1050. Violation of it may see the next support at 970 mark. While, for upside resistance is pegged at 1110-1120.

DJI Weekly: move bias sideways to downside potential

DJI losing ground after prices failed to sustain at higher end with printed a long black body candle. Looks market may move bias sideways to downside potential in near term. We continue to look for the support at 10827. While, upside resistance is at 11867-11924.