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Monday, May 27, 2013

CPO rising up for Awal Ramadan

FCPO flashing positive signals ahead of Ramadan
FCPO Aug 2013 staged a breakout in the weekly chart today gaining RM9 to RM2380. Intraday volume however fell to 10157 compared to last Friday's 17858 contracts. In the Daily Chart, 3rd month Aug contract price is tagging the SMA 60 -days while daily prices are pushing the Bollinger Upper Band into expansion mode.

Both daily technicals mentioned are positives and could possibly be preludes for better sentiments in anticipation of higher demands ahead of the fasting month of Ramadan which falls on the 10th July.

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