FCPO Updates

08 Dec - FCPO Come to Important Fibonacci Level

InvestorsDoctor
Publish date: Fri, 08 Dec 2017, 10:01 AM
InvestorsDoctor
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Following Message
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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