FKLI spot month closed up 9.5 points at 1543.5, while Apr contract closed at 1542, well above the 1540 level which is the crucial resistance. More upside room is expected if FKLI can close above 1530 for the week. However, we cannot expect that market can keep all the way up without any retrace. Today range is expected to be at 1530 – 1545.
Support level, 1535, 1530, 1525; Resistance 1546, 1550.
FCPO closed up 14 at 3326. It went all the way down to 3291 and pushed up to 3300 level. However, we can see that the upside movement faces some strong resistance levels at around 3340. If the price can maintain at above 3330, it is still advisable to hold your long. SGX and ITS export data out, +2.3% and -0.5% respectively.
Support level 3300, 3280; Resistance level 3360, 3400
Open position: Long 1 FCPO Jun @ 3293
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