ATHENA MARKET BUZZ

1400 18122023 Athena Market Buzz Monday  Good afternoon, As we approach the last but one week of 2023, the markets are showing stability, and the transition to 2024 is imminent. This week's activities are expected to remain subdued, lacking major volatility. MDEX started unchanged, with February trading at RM 3705 by lunch, up by 13, and March at RM 3719, up by 8. At the time of writing, both are trading at their daily highs, with February at RM 3738, up by 46, and March at RM 3754, up by 43. Market expectations suggest a range-bound scenario, with limited upside potential, expected to reach MR 3950. We advise readers to consider long positions if prices correct below RM 3600 (within the range of RM 3550-3450), ensuring safety. Profit booking by selling longs between RM 3850-4000 is recommended, and short positions in MDEX are suggested if prices cross RM 4250 on the upside. Despite some sellers being reluctant to sell, indicative pricing suggests Idea prices should be around USD 8...

1600 14122023 Athena Market Buzz Thursday  Good afternoon, ITs a buy Palm oil and Buy Soybean oil kind of a day. Sunflower oil too close to Soybean oil hence wait and watch.  Mdex experienced a marginal opening decline, remaining mostly unchanged by lunchtime, with February down by 2 points at RM 3668 and March down by 2 points at RM 3691. However, as the day progressed, a recovery ensued due to bargain hunting and short covering. The day concluded with February up by 21 points at RM 3691 and March up by 20 points at RM 3713. Despite the recent correction, today's recovery did not breach the RM 3750 mark, leaving room for further correction. Consequently, we advise buyers to exercise patience and consider making longs at levels between RM 3550-3450. Yesterday witnessed robust business activity in India's Refined, Bleached, and Deodorized (ROL) market at USD 830. However, by this morning, sellers adjusted their offers to USD 840 to do 835 after the withdrawal of cheaper offers....