FCPO Updates

02 Nov - FCPO Likely to Resume Bullish Trend

InvestorsDoctor
Publish date: Thu, 02 Nov 2017, 10:22 AM
InvestorsDoctor
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Following Message
02/11/2017
 
FCPO Jan 18 
 
Yesterday Close: 2837 +21


 
US soyoil edges higher to retest previous high, while Dalian palm olein rebounds from losses today, may push up FCPO later. FCPO export for Oct 17 tend to be weakening, watch out for further production data. 
 
Based on daily chart, FCPO closed with white candle yesterday for a first day after 3 consecutive days of losses. Hourly chart show if price break 2838 yesterday high may go retest 2855 resistance, which is also the upper BB band. RSI rebounded from oversold zone while MACD no confirm signal of rebound yet.
 
Price Level to monitor today:
Resistance 2855 2883
Support 2802 2761
 
Recommend Trading Plan for Today:
1. Buy at higher high 2839, stop 2824, profit 2854
2. Watch out for sell signal if unable to sustain above 2855, sell 2840-2850, stop 2856, profit 2826
 
Margin requirement (per lot)
Intraday     RM 2500
Overnight  RM 5000
Spread       RM 1000
 
Disclaimer: Idea for sharing, trade at your own risk
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