FCPO Updates
[CPO Futures] - Price still bearish
InvestorsDoctor
Publish date: Tue, 23 Jan 2018, 10:25 AM
InvestorsDoctor
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23/1/2018
FCPO Apr 18
Previous Close: 2475 +34
FCPO rebounded for the 1st day on yesterday, rising on the back of bullish sentiment commented by palm oil experts in Pakistan Edible Oil Conference, despite that palm oil export continue to fall on this month. US soyoil show no sign of rebound, while dalian palm olein +0.23% this morning, expect to see limited upside for FCPO. Watch out for coming ITS & SGS export, Sppoma & MPOA production data.
Daily chart's technical indicators pointed sideway to lower, will trigger further sell signal if break previous low of around 2417.
Price Level to monitor today:
Resistance: 2508 2541
Support: 2459 2433 2417
Recommend Trading Plan for the day:
1. Buy 2480, stop 2468, profit 2492/2504
2. Look for sell signal if break below 2459
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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