FCPO Updates
10 Nov - FCPO Awaiting ITS & MPOB Data
InvestorsDoctor
Publish date: Fri, 10 Nov 2017, 10:17 AM
InvestorsDoctor
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10/11/2017
FCPO Jan 18
Previous Close: 2809 -11
FCPO fell in evening session yesterday after break previous day high, as market expected weaker CPO export data today. Watch out for MPOB & ITS/SGS export data today. US soyoil drop back to range of 35.2+ and Dalian palm olein fall a little around 0.1% today, FCPO later may first test support.
Daily chart formed a dark cloud cover, wait today close black to confirm the signal. Hourly chart's technical indicators in neutral. Fibo analysis show price move in between 23.6%-50% level.
Price Level to monitor today:
Resistance 2838 2855
Support 2770
Recommend Trading Plan for Today:
1. Trade in range and wait for cpo data today to determine further direction. Sell 2830 or above, stop 2746, profit 2800-2810.
2. If price go low first, buy below 2790, stop 2770, profit 2805-2815.
3. Sell lower low 2804, stop 2818, profit 2790.
Margin requirement (per lot)
Intraday RM 2500
Overnight RM 5000
Spread RM 1000.
Data Today
1-10 Nov Export and Oct MPOB
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