Weblog Disclaimer : The information in this weblog has been obtained from sources believed to be reliable. Its accuracy and completeness is not guaranteed and opinions are subject to change without notice. This weblog is for information only and not to be construed as a solicitation for contracts. We accept no liability for any direct or indirect losses arising from the use of this weblog.
Friday, August 28, 2009
Trader's Comment:Market traded in sideways range again and ended slightly higher ahead of long weekend covering
Market traded in sideways range again and ended slightly higher ahead of long weekend covering. Benchmark Nov09 had been hovering between 2375-2352 through out the day until it settled RM24 higher at 2370. Players were generally cautious and did not make aggressive moves ahead of long weekend. Positive external markets did provide some support to the BMD as Asian time NYMEX crude oil edged higher today, while both eCBOT soy oil and Dalian palm also follow suit. Daily volume increased slightly to a total of 13,584 contracts that changed hands.