09/10/2017

FCPO Dec 17

Fridat Closed: 2730 +10

US Soyoil Dec 17 rebound to 33.1+ and retesting 33.20/33.45 the previous high. Dalian palm olein market re-open today after China long holiday, which gain more than 1.60% when we posting this. FCPO likely to follow its substitutes and reflect the sentiment and expect to open high today.

Based on Fibonacci analysis,  there are 2 aligned level which appear to be significant resistance level, around 2746 and another around 2803.

Price Level to monitor today:

Resistance 2746 2770,

Support 2706 2653.

Recommend Trading Plan for Today:

1. If no open high, buy at 2729 with stop at 2715.

2. If open high, we will update the entry point, follow Facebook and telegram for timely information.

Coming Data to Watch::

Export for 1 -10 Oct on 10 Oct 2017

MPOB for September on 10 Oct 2017

Latest FCPO Data:

*Reuters Poll* Sep vs Aug MPOB:

Prod 1.84m vs 1.81m (+1.5%)

Impt 42k vs 9k

Expt 1.60m vs 1.49m (+7.8%)

LDsp 214k vs 174k

Stks 2.00m vs 1.94m (+3.2%)

*Bloomberg survey* Sep vs Aug MPOB:

Prod 1.83m vs 1.81m (+1.1%)

Impt 40k vs 9k

Expt 1.61m vs 1.49m (+8.1%)

LDsp 200k-240k vs 174k

Stks 2.00m vs 1.94m (+3.1%)

*CIMB* Sep vs Aug MPOB:

Prod 1.794m vs 1.811m (-0.94%)

Impt 42k vs 9k

Expt 1.640m vs 1.488m (+10.22%)

LDsp 238k vs 174k

Stks 1.931m vs 1.942m (-0.57%)

Margin requirement

Intraday RM 2500

Overnight  RM 5000

Spread    RM 1000

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