FCPO Updates
18 Dec - FCPO Have sign of rebound
InvestorsDoctor
Publish date: Mon, 18 Dec 2017, 10:43 AM
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18/12/2017
FCPO Mar 18
Previous Close: 2551 +62
FCPO finished with a strong rebound last week on expectation that production will decline this month, wait today close higher high to confirm short term rebound signal. US soyoil fell on last week but Dalian palm olein +0.6% this morning, show that FCPO may rebound further but upside limtied.
Daily chart show a strong white candle and rebound from oversold, while hourly chart's indicators rebound.
Price Level to monitor today:
Resistance: 2560 2600
Support: 2500 2460
Recommend Trading Plan for the day:
1. Look for higher high buy signal at 2560
2. If price retrace 1st, buy 2518 or below, stop 2498, profit 20pts
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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