FCPO Updates
19 Oct - FCPO in Sideway
InvestorsDoctor
Publish date: Thu, 19 Oct 2017, 10:22 AM
InvestorsDoctor
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19/10/2017
FCPO Jan 18
Yesterday Close: 2741 -21
US Soyoil and Dalian palm olein traded lower yesterday, but today Dalian palm olein rebound around 0.35% and US soyoil rebound from low of 33.46 to 33.7+. On last trading day FCPO broke and closed below support of 2747, triggered a correction signal, today form another lower low & high will confirm the signal.
Based on hourly chart Fibo analysis, FCPO unable to break resistance of 2770 and retraced and testing 2746 61.8 Fibo level. On Last trading day market trading in a mix signal which is higher high and lower low at same time, watch out price today for confirmation signal.
Price Level to monitor today:
Resistance 2770 2787 2796 Support 2710 2677 2653
Recommend Trading Plan for Today:
1. Sell at lower low 2737 with stop at 2746
2. If open high, sell at 2760 or above with stop at 2771.
Watch out for potential rebound signal if sustain above 2770.
Margin requirement (per lot)
Intraday RM 2500
Overnight RM 5000
Spread RM 1000
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