FCPO Updates
[Palm Oil Futures] - Range Bound Market
InvestorsDoctor
Publish date: Wed, 07 Feb 2018, 09:46 AM
InvestorsDoctor
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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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