26/10/2017
FCPO Jan 18
Yesterday Close: 2806
FCPO rebound from 2761 yesterday and closed around previous high 2806, this level also the 38.2% Fibonacci level, as previous high hit this level and correction to 2761. Meanwhile, soyoil price lower than yesterday 6 pm and Dailian Palm Olein trading down 0.21%.
In the hourly chart, be cautious of potential retracement from 2808, if price did not formed higher high, as RSI formed lower high yesterday.
Price Level to monitor today:
Resistance 2808 2825
Support 2784 2761
Recommend Trading Plan for Today:
1. Buy at higher high 2809 with stop at 2794, profit 2824
2. Prepare to SELL if price retraced from 2808
Margin requirement (per lot)
Intraday RM 2500
Overnight RM 5000
Spread RM 1000
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