FCPO Updates

15 Nov - FCPO in Bearish Mode in The concern of Rising Production

InvestorsDoctor
Publish date: Wed, 15 Nov 2017, 11:03 AM
InvestorsDoctor
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Following Message
15/11/2017
 
FCPO Feb 18 
 
Previous Close: 2737 -39
 
 
FCPO closed at lower low yesterday, weighted down by rumors of weak export data Nov 1-15, and tracking overnight losses of US soyoil & Dalian palm olein. Today watch out for ITS/SGS export data vs rumors. US soyoil drops further to 34.2+, while Dalian palm olein -1% now, later FCPO may open low again.
 
Based on hourly chart, FCPO gapped down yesterday and unable to close gap, today break lower low may trigger further sell signal. RSI in oversold may also trigger technical rebound signal. MACD & BB crossing down, show that short term trend more to downside.
 
Price Level to monitor today:
Resistance 2767 2813
Support  2712 2690
 
Recommend Trading Plan for Today (For Febraury Contract):
1. Sell lower low 2733, stop 2748, profit 2718
 
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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