FCPO Updates
20 Oct - FCPO in Channel Consolidation
InvestorsDoctor
Publish date: Fri, 20 Oct 2017, 09:35 AM
InvestorsDoctor
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20/10/2017
FCPO Jan 18
Yesterday Close: 2723 -18
FCPO yesterday closed with lower high & low, triggered a correction signal. Is it merely profit taking or selling on speculation of export data today? lets find out later. US soyoil recovers from losses to retest 34.06 previous high, while Dalian palm olein not much changes for now.
Based on hourly chart Fibo analysis, FCPO still remain in rebound trend as measured by drawn incline trend line. Significant resistance will be see at around 50% of Fibo level. Break 2704 yesteday low will trigger further sell signal.
Price Level to monitor today:
Resistance 2746 2770
Support 2700 2677
Recommend Trading Plan for Today:
1. Sell at 2717 with stop at 2733, profit 2700
Watch out for potential rebound signal above 2746.
Data to minotor for the day:
Oct 1-20 Export
Previous Data:
ITS Export
Oct 1-10: 448,349 v 379,652 +18.09%
Oct 1-15: 690,074 v 625,655 +10.30%
Margin requirement (per lot)
Intraday RM 2500
Overnight RM 5000
Spread RM 1000
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