FCPO Updates

11 Oct - FCPO remain Sluggish, Trader Please SELL!!!

InvestorsDoctor
Publish date: Wed, 11 Oct 2017, 10:11 AM
InvestorsDoctor
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Following Message
FCPO Dec 17 
 
Yesterday Close: 2694 -41


 
 
US Soyoil traded in tight range with little changes on closing. Dalian palm olein today drop around 0.7% in the morning. Yesterday FCPO dropped sharply after higher than expected inventory data and lower export by MPOB.
 
Hourly chart show FCPO break lower low at below 2706 and formed a double top down signal. Today break yesterday low of 2686 may trigger further sell signal. Based on Fibo analysis as show in the chart, 61.8 level which is around 2746 remain strong resistance.
 
Price Level to monitor today:
 
Resistance 2746 2770, 
Support 2680 2653.
 
Recommend Trading Plan for Today:
 
1. Sell lower low at 2685 with stop at 2698
 
FCPO Latest Data:
 
MPOB Sep 17
Production: 1.780m vs 1.811m (-1.7%)
Export: 1.515m vs 1.488m (+1.8%)
Inventory: 2.019m vs 1.942m (+4.0%)
 
ITS Export
Oct 1-10: 448,349 v 379,652 +18.09%
 
SPPOMA Production
Oct 1-5: +103.51%
 
Margin requirement
Intraday     RM 2500
Overnight  RM 5000
Spread       RM 1000
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