FCPO Updates
[Palm Oil Futures] - Monitor for Breakup
InvestorsDoctor
Publish date: Wed, 03 Jan 2018, 11:01 AM
InvestorsDoctor
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3/1/2018
FCPO Mar 18
Previous Close: 2532 +29
FCPO rose on yesterday as tracking related edible oils and supported by improving export. US soyoil show some rebound at around 33.60 overnight while Dalian palm olein with slightly gains (+0.18%) at this morning. FCPO likely to test resistance 1st but stronger MYR may cap upside of price.
Hourly chart's technical indicators show FCPO testing rebound but yet to breakout from current side way range.
Price Level to monitor today:
Resistance: 2548 2557 2572
Support: 2526 2485
Recommend Trading Plan for the day:
1. Sell 2525, stop 2535, profit 10pts or above.
2. Buy 2535, stop 2525, 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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