FCPO Updates
07 Dec - More Down Side for FCPO
InvestorsDoctor
Publish date: Thu, 07 Dec 2017, 10:13 AM
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07/12/2017
FCPO Feb 18
Previous Close: 2535 -28
FCPO fell to near 5 months low yesterday, charting a 3rd straight day of losses, on expectations of risking inventories and slowing demand, according to few analyst survey. US soyoil down to near 34 support overnight, while Dalian palm olein -1.7% this morning, expect that FCPO to open low later.
Daily chart formed a three black crows bearish signal and triggered a lower low sell signal. RSI approaching oversold zone and MACD crossing down. As indicated by daily chart's Fibo analysis, FCPO may see some rebound around 423.6% which is near to previous support at 2494.
Price Level to monitor today:
Resistance: 2572 2625
Support: 2494 2425
Recommend Trading Plan for the day:
1. Sell lower low 2529, stop 2545, profit 2513
2. If price go rebound, sell 2553 or above, stop 2573, profit 20 pts or above.
FCPO Margin Requirement
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1000
Disclaimer: Idea for sharing purpose, trade at your own risk.
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