FCPO Updates

[CPO Futures] - Bearish Sentiment Favor to Sell

InvestorsDoctor
Publish date: Mon, 15 Jan 2018, 10:06 AM
InvestorsDoctor
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Following Message
15/1/2018
 
FCPO Apr 18
 
Previous Close: 2535 -31
 
 
Today is last trading day of FCPO Jan 18 contract. FCPO fell to near 2 weeks low last Friday as tracking weakness in US soyoil and pressured by raising MYR. Today watch out for CPO export data. US soyoil remains around 33 while dalian palm olein no changes now, FCPO expects to move in sideway or bias to downside.
 
Hourly chart show FCPO closed at below previous support of 2556, formed another lower high & lower low, signal to sell further. Technical indicators are more to bearish.
 
Price Level to monitor today:
Resistance:  2557 2575 2621
Support:     2504 2467
 
Recommend Trading Plan for the day:
1. Sell 2528, stop 2544, profit 2512
 
 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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