11/12/2017

FCPO Feb 18

Previous Close: 2477 -26

FCPO extended its fall yesterday to another lower low and closed at 5 months low, in the concern of that Nov 17 palm oil inventory level might be rise to 2.44 m to 2.5 m according to Polls and survey data. MPOB data for November to release on 12:30 pm today. Soyoil has little gained from Friday 6 pm.

Daily chart continues to move lower high & low, no sign of reversal yet. The price had traded lower than 2503 as forecasted in 21 November post. The current price level indicate significant support level from projection since the fall.

 Price Level to monitor today:

Resistance:  2523

Support:     2478 2425

 Recommend Trading Plan for the day:

1. Not recommend to take position before MPOB data released.

Data to watch today

MPOB Nov17 Survery Data

Bloomberg

Prod 2.010 vs 2.009 (+0.1%)

Expt: 1.450 vs 1.549 (-6.4%)

Impt: 0.020 vs 0.013 (+48.4)

LDsp: 0.270 vs 0.304 (-11.1%)

Stock: 2.500 vs 2.190 (+14.1%)

CIMB

Prod: 2.034 vs 2.009 (+1.3%)

Expt: 1.450 vs 1.549 (-6.4%)

Impt: 0.013 vs 0.013 (unch)

LDsp: 0.292 vs 0.304 (-3.9%)

Stock: 2.495 vs 2.190 (+13.9%)

REUTERS

Prod: 1.95 vs 2.009 (-3%)

Expt: 1.450 vs 1.549 (-6.4%)

Stock: 2.44 vs 2.190 (+11.4%)

 FCPO Margin Requirement

Intraday     MYR 2250

Overnight  MYR 4500

Spread     MYR 1000

Disclaimer: Idea for sharing purpose, trade at your own risk.