FCPO Updates
15 Dec - FCPO Sign of Technical Rebound
InvestorsDoctor
Publish date: Fri, 15 Dec 2017, 10:23 AM
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15/12/2017
FCPO Mar 18
Previous Close: 2489 -12
FCPO hit 16 month low and pull back yesterday, weighed down by low demand and high inventories, as well as weakness in Dalian palm olein. Today watch out for CPO export data. US soyoil not much changes overnight, but Dalian palm olein -0.5% this morning, FCPO later may test support 1st.
Technical indicators in daily chart are more to bearish, with possibility of short term technical rebound as RSI in oversold.
Price Level to monitor today:
Resistance: 2494 2535
Support: 2438
Recommend Trading Plan for the day:
1. Buy higher high 2495 for a rebound, stop 2473, profit 2517.
2. Look for sell signal below lower low at 2457
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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