16/10/2017
FCPO Jan 18
Yesterday Close: 2757 +40
![](/files/my/blog/img/bl3939_whatsapp_image_20171016_at_09.17.57.jpeg)
US Soyoil rebound sharply last Friday, surprised by bullish USDA weekly report. Dalian palm olein today up around 1.6%, FCPO likely to open high, and continue its rebound.
Based on Fibo analysis on hourly chart, FCPO break and close above key resistance of 2745, which is 61.8 level of Fibo. Today likely testing 38.2 Fibo level around 2784 of previous high.
Price Level to monitor today:
Resistance 2774 2784 2811
Support 2722 2696
Recommend Trading Plan for Today:
1. If no open high, buy at higher high 2759 with stop at 2740
2. If open high, wait for further entry signal.
Data To Watch:
1-15 Oct Export
Margin requirement
Intraday RM 2500
Overnight RM 5000
Spread RM 1000
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