FCPO Updates

[Palm Oil Futures] - Range Bound Market

InvestorsDoctor
Publish date: Wed, 07 Feb 2018, 09:46 AM
InvestorsDoctor
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Following Message
7/2/2018
 
FCPO Apr 18
 
Previous Close: 2470 -19
 
 
FCPO declined slightly on yesterday, moved in range as investors wait for more catalysts and as market tracking weakness of global equities market sell off. US soyoil dropped to 33.1+ last night but Dalian palm olein managed to +0.5% this morning, a mixed signal for FCPO, expect to continue trade in sideway to lower range.
 
Both daily & hourly chart show no strong direction signal, wait for further breakout.
 
 Price Level to monitor today: 
Resistance:  2504 2526 2558
Support:    2445 2433 2417
 
 Recommend Trading Plan for the day: 
1. Buy 2475, stop 2467, profit 2483/2491.
2. Look for sell signal if break below 2468.
 
 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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