FCPO Updates
[CPO Futures] - Bearish Sentiment Favor to Sell
InvestorsDoctor
Publish date: Mon, 15 Jan 2018, 10:06 AM
InvestorsDoctor
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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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