FCPO Updates

[CPO Futures] - Trend in Correction to SELL

InvestorsDoctor
Publish date: Wed, 14 Feb 2018, 10:11 AM
InvestorsDoctor
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Following Message
14/2/2018
 
FCPO May 18
 
Previous Close: 2517 -25
 
 
FCPO will change active contract month by this week, traders may choose to trade contract May 18. FCPO took a pause after rally of bullish MPOB data as investors liquidate their position holding ahead of long weekend and tracking weakness of US soyoil. 
 
US soyoil remains below 32 overnight and Dalian palm olein -0.5% this morning, expect FCPO later to test support 1st. Hourly chart show FCPO already close downside gap and wait for next strong direction signal.
 
 Price Level to monitor today: 
Resistance:  2555 2590 
Support:   2471 2452 2439
 
 Recommend Trading Plan for the day: 
1. Sell 2505, stop 2520, profit 2490.
 
 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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