10/10/2017

FCPO Dec 17

Yesterday Close: 2735 +5

US Soyoil had little changed yesterday with closed at 33.23, the market had been sideway from 32.76 to 33.45 since 05 Oct. This morning, dalian palm olein dropped more than 0.6%, FCPO is expect to open low. FCPO have traded in tight range on yesterday, this indicated that market is uncertain ahead of data. Trader please be cautious ahead of data announcement. Please join our social channel for getting timely update on today data.

Hourly chart show that FCPO found resistance at 2746 level, price trade below this zone for 3 trading days. This level is also a significant Fibonacci level we discussed earlier, and price had been trading sideway range between 2706-2746, waiting for breakout.

FCPO Data Announcement Today:

Export for 1 -10 Oct on 10 Oct 2017

MPOB for September on 10 Oct 2017
 

Price Level to monitor today:

Resistance 2746 2770,

Support 2706 2653.

Recommend Trading Plan for Today:

1. Buy when higher high at 2747 with a stop at 2724 or

2. If market not opening low, sell with tight stop at 2747 or

2. If market open low, monitor 2706 for further confirmation for selling

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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