FCPO Updates
27 Dec - FCPO likely to test Resistance
InvestorsDoctor
Publish date: Wed, 27 Dec 2017, 09:35 AM
InvestorsDoctor
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27/12/2017
FCPO Mar 18
Previous Close: 2504 +53
FCPO rebounded strongly yesterday after bullish CPO export & production data, signaled that inventory may start to decrease. US soyoil inched up higher near 33.50 overnight, back to above 33 level, while Dalian palm olein +1.4% this morning, FCPO may open high later, resume its rebound.
Hourly chart show a potential double bottom rebound signal if FCPO able to sustain above 2557 resistance. RSI & MACD crossing up, FCPO likely continue to test resistance.
Price Level to monitor today:
Resistance: 2534 2557 2772
Support: 2451 2417
Recommend Trading Plan for the day:
1. Buy higher high 2506, stop 2493, profit 2519.
2. If price go retrace, buy 2488 or below, stop 2478, profit 10pts or above.
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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