Biz Direct MarketKnowing When To Make A Good Decision

The price of FCPO went into a bullish rally for one month in the mid-July to mid-August. The price climbed RM525 per metric ton or 26% from a low of RM1,990 to a high of RM2,515. The price then went into a correction, goes to a low of RM2,234 before settling at RM2,366 at the end of the month. The RM2,234 low was a 50% retracement from the one month bullish rally and the 30-day moving average

The US equity market continues its bullish trend with a marginal increase. The DJI closed 4% higher month-to-month at 9,544.20 on Friday. Increase in housing sales, better than expected corporate earnings and positive statements from the central bank boost investors confidence. Investors were trading cautiously as the job market has not been improving much. The market has been supported well.