FCPO Updates
12 Oct - FCPO to Rebound following Dalian Palm Olein.
InvestorsDoctor
Publish date: Thu, 12 Oct 2017, 10:31 AM
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12/10/2017
FCPO Dec 17
Yesterday Close: 2696 +2
US Soyoil closed with little price changed yesterday, while Dalian palm olein up +0.25% from yesteday closing. FCPO later may first testing rebound. FCPO yesterday break below 2686, formed lower low further sell signal, but pull back and close gap ahead of market closed.
Today break 2707 will show a technical rebound signal, likely retest key resistance of 2746. Still, FCPO yesterday closed with lower low & high, signaled that seller pressure remain stronger.
Hourly chart show FCPO will trigger a further sell signal if break yesterday low of 2677. Break 2707 will trigger a bottom rebound signal.
Price Level to monitor today:
Resistance 2707 2746,
Support 2677 2653.
Recommend Trading Plan for Today:
1. Sell lower low at 2676 with stop at 2699
2. Buy higher high at 2708 with stop at 2683
Margin requirement
Intraday RM 2500
Overnight RM 5000
Spread RM 1000
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