FCPO Updates
[Palm Oil Futures] - Strong Bullish Trend
InvestorsDoctor
Publish date: Thu, 04 Jan 2018, 10:32 AM
InvestorsDoctor
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4/1/2018
FCPO Mar 18
Previous Close: 2606 +74
FCPO surged nearly 3% to their highest in a month on yesterday on expectations for strengthening demand in coming weeks ahead of CNY. US soyoil inched up and breakout form sideway range overnight, while Dalian palm olein +0.78% this morning, later FCPO may open high, continue to test rebound.
Daily chart formed a double bottom rebound signal and hourly chart's technical indicators also more to bullish.
Price Level to monitor today:
Resistance: 2649 2683
Support: 2558 2526
Recommend Trading Plan for the day:
1. Buy 2613, stop 2593, profit 20pts 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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