FCPO Updates

26 Oct - FCPO Trend Bullish, but Watchout for Potential Retracement from 2808

InvestorsDoctor
Publish date: Thu, 26 Oct 2017, 10:05 AM
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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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