FCPO Updates
[CPO Futures] - Price lifted by Better Production Data
InvestorsDoctor
Publish date: Thu, 22 Feb 2018, 10:53 AM
InvestorsDoctor
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22/2/2018
FCPO May 18
Previous Close: 2489 +4
FCPO ended slightly higher on yesterday, but still below 2500, despite the price supported by lower SPPOMA production and higher US soyoil price yesterday. Dalian palm olein resume with +0.5% this morning, with US soyoil also rebound to 32.2+, FCPO later likely open high and test above 2500 level.
Both daily & hourly charts show FCPO enters a sideway with no strong direction signal, but both MACD still below zero, signaled that buying interest still weak, upside of FCPO may limited.
Price Level to monitor today:
Resistance: 2525 2555
Support: 2471 2452 2439
Recommend Trading Plan for the day:
1. Buy 2494, stop 2480, profit 2508/2522.
2. Sell 2480, stop 2494, profit 2466/2452.
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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