FCPO Updates
[CPO Futures] - Moved Down with Weakening Demand
InvestorsDoctor
Publish date: Wed, 21 Feb 2018, 09:51 AM
InvestorsDoctor
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21/2/2018
FCPO May 18
Previous Close: 2485 -30
FCPO slid on yesterday after palm oil export data show a slower growth, watch out for 1-20 Feb palm oil production data. US soyoil rebounded to above 32 overnight, FCPO later may open high and retest above 2500.
Daily chart indicated that FCPO enters a sideway range while hourly chart show a sideway to lower trend as technical indicators moving lower.
Price Level to monitor today:
Resistance: 2520 2555
Support: 2471 2452 2439
Recommend Trading Plan for the day:
1. Buy 2489, stop 2480, profit 2498/2507.
2. Sell 2480, stop 2489, profit 2471/2462.
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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