FCPO Updates

25 Oct - FCPO in Rebound, Price 1.618% 2804

InvestorsDoctor
Publish date: Wed, 25 Oct 2017, 09:47 AM
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25/10/2017
 
FCPO Jan 18 
 
Yesterday Close: 2777 -10

FCPO closed slightly lower yesterday after retrace from a high of 2808. With higher high & low yesterday, overall trend still in rebound stage. Soyoil not much changes yesterday, while Dalian palm olein gainED more than 0.4% this morning, FCPO may test yesterday higher price. Watch out for coming export/production data.
 
Based on hourly chart Fibo analysis, as mentioned yesterday, price retraced from outside of upper BB and RSI overbought zone, which is also 161.8% of Fibo level. Technical indicators still trending upward. 
 
Price Level to monitor today:
Resistance 2808 2830
Support 2770 2740
 
Recommend Trading Plan for Today:
1. Buy 2782, stop 2770, profit 2794/2804
2. Sell 2770, stop 2782, profit 2758/2748
 
Margin requirement (per lot)
Intraday     RM 2500
Overnight  RM 5000
Spread       RM 1000
 
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