FCPO Updates

[Palm Oil Futures] - Awaiting Data for Direction

InvestorsDoctor
Publish date: Mon, 08 Jan 2018, 09:42 AM
InvestorsDoctor
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Following Message
8/1/2018
 
FCPO Mar 18
 
Previous Close: 2594 +9
 
 
FCPO paring its gains on early trading session of last Friday, closed with almost no changes, weighted down by expectations of raising palm oil inventories, watch out for MPOB, Sppoma & CPO export data this week. US soyoil unable to sustain above 34 and see some correction on last week, while Dalian palm olein -0.6% this morning, later FCPO may open low and test further correction.
 
Hourly chart show RSI and MACD crossing down, signaled that FCPO may enter a correction before continue its upside from double bottom rebound signal.
 
Price Level to monitor today:
Resistance:  2615 2649
Support:     2581 2558
 
Recommend Trading Plan for the day:
1. Sell 2580, stop 2598, profit 2562.
2. Look out for rebound signal to buy.
 
 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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