FCPO Updates
08 Nov - FCPO in Correction Mode
InvestorsDoctor
Publish date: Wed, 08 Nov 2017, 09:43 AM
InvestorsDoctor
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08/11/2017
FCPO Jan 18
Previous Close: 2785 +2
FCPO yesterday closed with slightly higher compare to previous day, tracking price gains of US soyoil. FCPO opened high yesterday but unable to sustain above 2800 level, show that seller still take charge of market. US soyoil today rebound to 35.1+, with Dalian palm olein no changes for now.
Based on hourly chart, candles formed lower lows & highs, technical indicators still show declining, short term trend more to bearish.
Price Level to monitor today:
Resistance 2808 2821 2855
Support 2760 2720
Recommend Trading Plan for Today:
1. Sell lower low 2771, stop 2789, profit 2753.
2. Watch out for rebound signal.
Margin requirement (per lot)
Intraday RM 2500
Overnight RM 5000
Spread RM 1000
Latest CPO Data:
MPOA Full Oct 2017 vs Sept 2017
PMsia +10.2
Emsia +14.8
Msia +11.8.
Estm 1.99 mill tons.
PMsia +10.2
Emsia +14.8
Msia +11.8.
Estm 1.99 mill tons.
SPPOMA 1-5th Nov est:
FFB: -1%
OER: +0.03%
Prodn: -0.84%
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