FCPO Updates
21 Dec - FCPO Priced Bearish
InvestorsDoctor
Publish date: Thu, 21 Dec 2017, 09:33 AM
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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.
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