FCPO Updates

21 Dec - FCPO Priced Bearish

InvestorsDoctor
Publish date: Thu, 21 Dec 2017, 09:33 AM
InvestorsDoctor
0 1,969
To get more timely information on local and foreign futures markets, join us on telegram and Facebook.

Join link: https://t.me/investorsdoctoracademy

Facebook: https://m.facebook.com/investorsdoctoracademy/
Following Message
21/12/2017
 
FCPO Mar 18
 
Previous Close: 2499 -22
 
 
FCPO fell on evening session yesterday, erased its previous gain and closed below 2500 despite CPO export data released yesterday show sign of recovering. MYR strengthened against USD, US soyoil fell to 33.1+ overnight, and Dalian palm olein -1.1% this morning, overall sentiment bias to bearish, may dragged down FCPO opening price later.
 
Daily chart show FCPO remains in oversold zone, while hourly chart show FCPO may end its rebound if close below 2494 today.
 
Price Level to monitor today:
Resistance:  2534 2560
Support:     2494 2460
 
Recommend Trading Plan for the day:
1. Sell 2493, stop 2508, profit 2478.
2. If price go rebound 1st, sell 2525 or above, stop 2535, profit 10pts or above.
3. Look for rebound buy signal if 2494 support holds or near the next support level around 2460
 
 FCPO Margin Requirement 
Intraday     MYR 2250
Overnight  MYR 4500
Spread   MYR 1000
 
Disclaimer: Idea for sharing purpose, trade at your own risk.
More articles on FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 31/12/2019 Bullish but be cautious of overbought

Created by InvestorsDoctor | Dec 31, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 30/12/2019 Bullish but be cautious of overbought

Created by InvestorsDoctor | Dec 30, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/12/2019 Close above 3000, sustain above this level for more upside

Created by InvestorsDoctor | Dec 27, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/12/2019 Sideway to higher, wait for breakout

Created by InvestorsDoctor | Dec 26, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 24/12/2019 Sideway to higher, wait for breakout

Created by InvestorsDoctor | Dec 24, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 23/12/2019 Sideway to higher, wait for breakout

Created by InvestorsDoctor | Dec 23, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/12/2019 Strong rebound in related edible oils, FCPO likely gap up

Created by InvestorsDoctor | Dec 20, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 19/12/2019 Break down from sideway, triggered technical correction signal

Created by InvestorsDoctor | Dec 19, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/12/2019 Sideway to higher, 2930 or 2850 wait for breakout

Created by InvestorsDoctor | Dec 18, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 17/12/2019 Sideway to higher, 2930 or 2850 wait for breakout

Created by InvestorsDoctor | Dec 17, 2019

Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment