4/4/2018

 

FCPO June 18

 

Previous Close: 2436 -22

 

FCPO traded in range and settled slightly lower yesterday in a technical correction and market stay cautious ahead of production, export & inventory data. US soyoil settled slightly higher last night at above 32.30, while Dalian palm olein +0.4% this morning, FCPO later may test upside 1st.

 

Daily chart show FCPO reversed its breakout from 2458 and drop back to range, resume sideway trend. Hourly chart show a RSI overbought correction yesterday and may retest 2465 today.

 

 Classic Support & Resistance 

Resistance:  2465 2494 

Support:   2399 2350

 

 Recommend Trading Plan for the day: 

1. Buy 2440 for a rebound, stop 2434 below yesterday low, profit 2446/2452.

2. Sell 2434, stop 2440, profit 2428/2422.

3. Trade in range 2400-2470.

 

 FCPO Margin Requirement 

Intraday     MYR 2250

Overnight  MYR 4500

Spread       MYR 1000

 

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Dear All，

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