FCPO Updates
[CPO Futures] - Technical Indicator Suggesting Rebound
InvestorsDoctor
Publish date: Tue, 16 Jan 2018, 09:55 AM
InvestorsDoctor
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16/1/2018
FCPO Apr 18
Previous Close: 2556 +21
FCPO showed some rebound yesterday after weaker export data. Watch out for Sppoma production data as traders forecast falling production in coming weeks, FCPO price likely to fall further if Sppoma data do not meet expectation. US soyoil opens with some rebound too above 33.2, while Dalian palm olein -0.2% this morning. FCPO may test support and move in range.
Both hourly & daily charts show no strong direction signal but testing rebound as technical indicators pull back from bottom.
Price Level to monitor today:
Resistance: 2590 2624
Support: 2521 2504 2467
Recommend Trading Plan for the day:
1. Buy 2560, stop 2545, profit 2575
2. Look for sell signal if unable to break yesterday high 2559.
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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