FCPO Updates

[Palm Oil] - Consolidate with Low Volume

InvestorsDoctor
Publish date: Fri, 29 Dec 2017, 09:52 AM
InvestorsDoctor
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Following Message
29/12/2017
 
FCPO Mar 18
 
Previous Close: 2521 -17
 
 
FCPO entered consolidation yesterday without to break another higher high, may trigger correction signal. Market is waiting for further CPO export & production data by end of this month to see the whole performance of 2017. US soyoil broke lower low yesterday and Dalian palm olein -0.5% this morning, FCPO likely open low and test support today. 
 
Hourly chart show a side way signal from 2417-2572. Today may 1st test middle and below of BB.
 
Price Level to monitor today:
Resistance:  2541 2772
Support:     2508 2451
 
Recommend Trading Plan for the day:
1. Look for sell signal below 2508.
2. Look for potential rebound signal around 2488 as the Fibo retracement level.
 
 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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