The indicator Y short 1856.5 on FKLI, since 28th April at 4pm, is kept riding on its good floating profit with the down trend which saw the index futures price low 1791.5 with 60 over index points of unrealized profit.
We will only post a stop and reverse buy trade signal when the indicative price is near to the current futures prices and we will try our best to post up ONE hour in advance.
The indicator Y long 2145 on FCPO is however not enjoying like what is happening on FKLI short 1856.5 even though the cpo futures price did hit high 2200 after turning long 2145.
The indicator Y long 2145 is still struggling and will face tremendous pressure if the cpo futures price is traded below 2150 or even below its buying level today. This is because the prices may affect the indicator Y indicative price being adjusted much higher.
The fundamental news on MPOB data also gave more pressure to cpo futures market on Bursa Malaysia Derivatives that will only be released on next Monday. Both Bloomberg and Reuters news did say that the end month stock of palm oil to be above 2 million tons for April month.