FCPO Updates
08 Dec - FCPO Come to Important Fibonacci Level
InvestorsDoctor
Publish date: Fri, 08 Dec 2017, 10:01 AM
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08/12/2017
FCPO Feb 18
Previous Close: 2502 -33
FCPO extended its fall yesterday to another lower low, tracking weakness in US soyoil & Dalian palm olein, over concern of that Nov 17 palm oil inventory level might be the highest in 2 years, according to a Reuters poll. US soyoil show some rebound overnight, while Dalian palm olein +0.14%, FCPO later may test rebound 1st.
Daily chart continues with lower high & low sell signal and approaching 423.6% Fibo level, may see some rebound from here. MACD moving down and RSI testing oversold zone.
Price Level to monitor today:
Resistance: 2530 2572
Support: 2494 2425
Recommend Trading Plan for the day:
1. Buy 2503 or below for a rebound, stop 2493, profit 10pts 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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