FCPO Updates

28 Dec - Palm Oil Looking for Further UPSIDE

InvestorsDoctor
Publish date: Thu, 28 Dec 2017, 10:46 AM
InvestorsDoctor
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Following Message
28/12/2017
 
FCPO Mar 18
 
Previous Close: 2538 +34
 
 
FCPO hit its highest in more than a week on a rise in CPO export and tracking rebound of US soyoil. US soyoil dropped slightly overnight, while Dalian palm olein +0.19% this morning. 
 
Hourly chart's technical indicators still in rebound, close above 2557 to form a double bottom rebound signal.
 
Price Level to monitor today:
Resistance:  2557 2772
Support:     2503 2451
 
Recommend Trading Plan for the day:
1. Buy higher high 2542, stop 2531, profit 2552.
2. If price go retrace, buy 2512 or below, stop 2502, 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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