ATHENA MARKET BUZZ

1300 19102023 Athena Market Buzz Thursday Good Morning, Mdex began the day with a slight uptick, and by noon, we had breached the critical RM 3812 threshold. January settled at RM 3832, marking a gain of 22 points, while December saw a 19-point increase at RM 3812. The driving forces behind these price movements include robust exports, strong demand from India and China, and a shortage of offers for spot cargo. The upward trajectory of crude oil toward the $100 mark is providing solid support to palm prices. Today's closing above the RM 3812 mark will be a noteworthy development. As previously mentioned, we anticipate some resistance for Palm as we approach RM 3850. We recommend our readers consider liquidating their palm holdings between RM 3850 and RM 4000. If prices surge beyond RM 4200, it may be prudent to open fresh short positions. On the flip side, opportunities for long positions are present between RM 3450 and RM 3550, and even for the more distant months if prices trend ...

1200 18102023 Athena Market Buzz Wednesday  Good Morning, Escalating Geopolitical Tensions Boost Investments in GOLD, Triggering 4-Week Highs The recent surge in geopolitical tensions has significantly impacted various global markets, including a notable upswing in the investment flow towards gold, propelling it to attain a 4-week high. Alongside this, China's robust economic growth has outpaced previous estimates, stimulating a dynamic investment climate. In parallel, crude oil prices rallied to an impressive $89, indicating a clear trajectory towards the much-anticipated $100 mark once again. MDEX, the index for Malaysian derivatives, almost reached the targeted 3850 mark, while CBOT bean oil has consistently remained well above the 55.50 mark for December, indicating a probable rise to 57.50. Despite the recent spike in Sunflower oil sellers' offers to USD 930, Iran's import ban is predicted to further bolster prices, amplifying the ongoing rally. MDEX encountered initia...