LOCAL MARKET
The Dow Jones index rose 179 points to closed higher at 44502 on previous session. The Dow advanced while the Nasdaq slipped on Tuesday, and crude prices ended lower as investors weighed a mix of corporate earnings and growing signs that President Donald Trump's prolonged trade war is pressuring profit margins — all as his self-imposed dealmaking deadline loomed.
The actively
traded FKLI contract remains within a broader downward channel. On the hourly
chart, the index recently saw technical buying interest after testing the
support zone at 1,500–1,502. However, it faced resistance around the
1,527–1,530 range. We maintain a downside bias, with a sell-on-rebound strategy
in focus. A rebound toward the 1,521–1,523 range may offer selling
opportunities. If the index breaks above this zone, market sentiment could
shift to a more positive tone. On the downside, support is seen at 1,516–1,517.
A break below this level may trigger further selling pressure, with the next
support located at 1,512–1,514. Beware of any potential sentiment changes. Immediate
support and resistance levels are identified at 1517 and 1523, respectively.
(News Source: The Star, Reuters)
Long positions may be opened above 1517 with targets at 1523/1528 and stop-loss at 1512
Short positions may be opened below 1517 with targets at 1512/1508 and stop-loss at 1522
CBOT soyoil active traded contract dropped 0.43 points to closed lower
at 55.39 on previous session. Dalian’s active palm oil contract rose 26 points to close higher
at 8954 on previous night session.
The actively traded FCPO contract continues to trend within an upward channel on the daily chart. On the hourly chart, the price is hovering just above the support line of the channel at 4,220–4,225, with consolidation showing an upward bias and a gradually narrowing range.
Immediate resistance is seen at 4,250–4,255. A firm break above this
level could lead to further upside toward 4,275, and potentially extend to the
4,295–4,300 zone. However, failure to break above resistance may trigger some
selling pressure. That said, any downside is expected to be limited as long as
the key support at 4,205–4,210 holds—maintaining the bullish outlook. Beware of any potential sentiment changes. The immediate
support and resistance levels are pinpointed at 4229 and 4253, respectively.
(News Source: Reuters)
Long positions may be opened above 4253 with targets at 4275/4297 stop-loss at 4233
Short positions may be opened below 4253 with targets at 4229/4205 stop-loss at 4233
Disclaimer: This information is intended to assist professional investors. News are credit courtesy of Reuters, Nasdaq.com, Bloomberg, CNN, Market Watch, FT.com, the Star online, forbes.com, mining.com and CNBC. The information does not constitute investment advice or an offer to invest or to provide management services and is subject to correction, completion and amendment without notice. As with all investments, there are associated risks and you could lose money investing. Prior to making any investment, a prospective investor should consult with its own investment, accounting, legal and tax advisers to evaluate independently the risks, consequences and suitability of the investment.
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