Palm oil stockpiles may fall below 1.8m tonnes

by - Kamarul Yunus

PALM oil stockpiles in Malaysia, the world's second largest grower, are expected to drop to below 1.8 million tonnes in February 2009, but palm oil prices remain stable, Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui said.

"Biologically, stockpiles of this commodity will decline in February as palm is producing less. Also, there is only 28 days in February," he told reporters after witnessing the signing of a licence and technical agreement between OCNED Water Technology Sdn Bhd and Japan's Sumitomo Heavy Industries Environment Co Ltd (SHI-EV) in Petaling Jaya yesterday.

Analysts are predicting that palm oil stockpiles may decline in February as production falls.

They said palm oil reserves may have dropped to as low as 1.7 million tonnes in February from 1.83 million tonnes in the previous month.Output will also likely fall by as much as 10 per cent from 1.3 million tonnes produced in January.

Nevertheless, planters would still gain handsome profit from the current price of RM1,800 per tonne, said Chin.

"If the current price is at RM1,800 to RM1,900 per tonne, those planters of a matured farm would still make money," he added.

IDX Technical Analysis , March 6 , 2009

by - super technical analysis

IHSG.JK :
Can't break 1,302 (Whipsaw), Will consolidate at 1,270-1,300.

MEDC.JK :
Already hit our target at 2,150. Sell if tomorrow can't break 2,150.Support at 2,000.

INDF.JK :
Make a whipsaw breakout, Bullish trend. Buy if close above 880.

TLKM.JK :
Strong Stock, Bollinger band bcome narrow. Support at 6,200 andResistance at 6,550.

ANTM.JK :
Yup, Downtrend is begin. Support at 1,130. If tomorrow break 1,080,ANTM will go to 1,040 in short term. Gold price also down from record at $1,000 / Troyounce

ITMG.JK :
Correction but it doesn't mean downtrend. ITMG still uptrend. Buy ifbreak 9,850.

BLTA.JK :
Golden Cross SMA. Resistance at 500.

UNVR.JK :
Strong Buy if hit 7,850-7,900. Will up if market down, Target at8,200.

ASII.JK :
Still look uptrend, Target at 11,450 in short term and support at10,800.

BYAN.JK :
Haha, Our Stock has goes up to resistance at 1,350. Take profit ifhit 1,400 or if break 1,270.

BUMI.JK :
Can't close above 800, will test support at 730-740, Resistance at 800.

TINS.JK :
At support area, buy if hit 1,010-1,020. Oversold.

BBCA.JK :
Still look comfortable, Will test support at 2,525 tomorrow.

BMRI.JK :
Can't closed above 1,800. Will test support at 1,730-1,750.

BBRI.JK :
Can't break 4,000. Down to 3,875. Will test support at 3,800.

PTBA.JK :
Will test support at 6,950, if break will down to 6,750-6,800.

ELSA.JK :
Hmmmm, Are ELSA ready to break 143 again ?

AALI.JK :
Be careful with this stock, if break 13,200 will go to 13,500. But if break 12,450 will go to 11,850.

PGAS.JK :
Still uptrend, Buy if PGAS break and close above 1,920-1,930.

JPRS.JK :
Up with high volume, Will Test 200 in short term