FCPO Updates

03 Nov - FCPO Trading in Range, Awaiting Comments Indonesia Conference

InvestorsDoctor
Publish date: Fri, 03 Nov 2017, 09:59 AM
InvestorsDoctor
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Following Message
03/11/2017
 
FCPO Jan 18 
 
Previous Close: 2821 -16
 
 
 
FCPO dropped slightly yesterday, tracking the weaker US soyoil price while traders stay cautious ahead of price forecast from Bali conference. US soyoil trades below 35, while Dalian palm olein drop around 0.5% this morning, may drag down FCPO price later.
 
Based on hourly chart, RSI & MACD both show declining, may trigger further correction for FCPO. Fibo analysis show that close below 161.8% which is also previous low of 2802 will trigger sell signal and resistance can see at 261.8% which is also previous high of 2896
 
Price Level to monitor today:
Resistance 2855 2896
Support 2802 2761
 
Recommend Trading Plan for Today:
1. Sell lower low 2816, stop 2829, profit 2803
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
 

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