FCPO Extra With Weekly Chart

 

 

Here is anothers extra on CPO chart based on weekly data. Hope it will give u some idea on When n Where ^_^

 

Crude palm oil futures on Malaysia’s derivatives exchange ended lower Friday for the third consecutive day as investors liquidated riskier positions ahead of key crop report by the U.S. Department of Agriculture Friday and March palm oil export data.

The benchmark June contract on the Bursa Malaysia Derivatives ended 0.7% lower at MYR3,433 a metric ton after moving in a MYR3,426-MYR3,445 range. Palm oil has gained 6.4% this quarter buoyed by bullish price forecasts, tepid CPO production growth and worries about tightening supplies of global vegoils.

"The market will likely continue to strengthen in the upcoming quarter as limited availability of soyoil will see a shift in export orders to Southeast Asian palm oil," an analyst at a Kuala Lumpur-based investment bank said.

Trading executives said March palm oil exports may have reached 1.23 million tons, up 4%-5% from a month ago.

Cargo surveyors SGS (Malaysia) Bhd. and Intertek Agri Services put February exports at 1.17 million and 1.18 million tons, respectively. Intertek is scheduled to issue March data on Saturday while SGS figures are due Monday.

Palm oil will likely find support in the second quarter from firm festive demand, as buyers from the Indian subcontinent and the Middle East may stock up vegoils ahead of the Muslim holy fasting month of Ramadan in July, when Muslims break the fast in the evening with feasts and dinner gatherings, lifting overall consumption of cooking oils.

Leading vegoils analyst Dorab Mistry reiterated a bullish forecast at an industry conference in Beijing earlier this week, tipping CPO prices to climb to a four-year high of MYR4,000/ton by the end of June before Ramadan begins, as "demand for palm oil will be greatest just when production will not have had time to recover."

"We are likely to see very tight stocks and a run-up in prices," Mistry said.

In the cash market, refined palm olein for July/August/September was traded at $1,145/ton and $1,147.50/ton, free on board Malaysian ports, a physical market broker in Singapore said.

Open interest on the BMD was 125,871 lots, versus 123,032 lots Thursday. One lot is equivalent to 25 tons.

A total of 21,018 lots of CPO were traded versus 20,280 lots Thursday.

FCPO 30 March 2012 ( End Of Trade ) Review For Next Monday

FCPO 30 March 2012 Review For 2nd Half

SHORT

WHERE TO SHORT : 3455-3460

WHERE TO CL : 3470-3475

WHERE TO PT : i) at 3420-3410          

Long

WHERE TO Long : 3410-3400

WHERE TO CL : 3390-3385

WHERE TO PT : i) at 3450 + 

FCPO 30 March 2012 Review

FCPO 30.03.2012

Hello guys…

 

My trading plan for today ^_^

SHORT

WHERE TO SHORT : 3455-3460

WHERE TO CL : 3470-3475

WHERE TO PT : i) at 3420-3410          

Long

WHERE TO Long : 3410-3400

WHERE TO CL : 3390-3385

WHERE TO PT : i) at 3450 + 

 

FCPO Weekly Review And 26.03.2012 Review ^_^

Crude palm oil futures (FCPO) on Bursa Ma­laysia Derivatives ended the week higher due to continuous better demand outlook for palm oil despite concerns over the slow­down in the global economic growth.

The benchmark FCPO June contract increased RM28 or 0.82 per cent to close at RM3,426 per tonne on Friday from RM3,398 per tonne last Friday. The trading range for the week was from RM3,334 to RM3,436.

Total volume traded for the week amounted to 131,755 contracts, up 11,254 contracts from the previous week. The open interest as at Thursday decreased to 122,586 contracts from 131,180 contracts the previous Thursday.

Palm oil prices were weak­er during the beginning of the week as the export demand growth for the first 20 days of March was much slower than the first 15 days of March.

Cargo surveyor ITS re­leased the palm oil export fig­ures for the period of March 1 to 20 on Tuesday at 894,594 tonnes, an increase of 14.24 per cent while another sur­veyor SGS at 886,706 tonnes, a rise of 14.01 per cent from the same period last month.

The fall in palm oil prices were exacerbated on Thurs­day when the PMI Manufac­turing in China and Europe especially Germany and France was lower than the previous month.

The indicator for these three countries fell below 50 levels, signaling a slowdown in the economic growth which could reduce the com­modities demand.

However, the fundamental for palm oil remained sup­portive with the reduction in South American soybean output estimates and the anticipation of lower US soybean acreage in 2012 had underpinned the palm oil prices.

Traders would be closely monitoring the grain plant­ing forecasts released by USDA on March 30 which would give the traders infor­mation about the intention of the US farmers on the planting acreage of corn, soybean and wheat.

Traders were also con­cerned on the strike by the Argentina’s truck drivers which could disrupt the soy exports from the third largest soybean exporter in the world.

Indonesia would raise its export tax for crude palm oil from 16.5 per cent to 18 per cent in April which would be beneficial to the Malay­sian exporters as the global exportable palm oil supplies would be tightening up.

Technical View

The palm oil prices were weaker during the begin­ning of the week as some traders were taking their profits off the table ahead of the major fundamental reports which would be released next week. This was in tandem with the re­duction of 8,594 contracts in the open interest this week compared with the previous week.

The benchmark June con­tract turned around from the low of RM3,334 on Thurs­day and touched the new high of RM3,436 on Friday on strong technical buying and short covering.

However, palm oil prices would be trading more cautiously at high levels ap­proaching the major resist­ance of RM3,465 to RM3,500 while waiting for more cues from the major fundamental reports next week. Resist­ance was pegged at RM3,465 while support was set at RM3,350 and RM3,270.

Major fundamental news this coming week

Malaysian export data for March 1 to March 25 by ITS and SGS on March 26, the export data for Mar 1 to March 31 by ITS on March 31 and the Prospective Plant­ings reports by USDA on March 30.

 

Credits To Oriental Pacific Futures 

IM IN SHORT POSITIONS NOW ( crossing fingger )

SHORT : 3468

WHERE TO CL : 3480-3485

WHERE TO PT : i) at 3423-3413 + ii) 3390-3380 

 

 

Long ( Hold Huat Huat ) if price come again to 3220+ 

 

FCPO 26.3.2012 ( From My Point Of View Only ) 18SX Above

 

Here is my opinions for 2nd half for today trading range. Im ready to short and also will be ready to buy on dip at support area. U know where was it rite :P Ok guys good luck and always put buy stop / sell stop for ur entry.

FCPO 26.03.2012

Hello guys…

 

My trading plan for today ^_^

SHORT

WHERE TO SHORT : 3455-3465

WHERE TO CL : 3470-3475

WHERE TO PT : i) at 3400 + ii) 3380 iii) 3334
           

Long

WHERE TO Long : 3395-3405

WHERE TO CL : 3390-3385

WHERE TO PT : i) at 3450 +
           

 

http://tokancorner.com/

~Playsafe eventhough it only have 2 flavor only :P ~

FCPO Review Based On 22.03.2012 data

 

 

Sorry guys im got a fever today... Just chew this chart ok :P Munch it slowly for a better digestions :P

 

Check out my previoust post :

http://tokancorner.com/2012/03/bursa-malaysia-fkli-futures-trading/fcpo-my-review-for-22-03-2012-im-in-bearish-mode/