10/4/2018

 

FCPO June 18

 

Previous Close: 2464 -41

 

Please be noted that active month of FCPO will be changed to Jul 18 next week, traders may choose to trade Jul 18 contract. FCPO unable to sustain above 2500 and erased its previous gains yesterday on profit taking ahead of data today. Watch out for MPOB Mar 18 report & 1-10 Apr export today.

 

US soyoil almost unchanged at around 31.50, while Dalian palm olein -0.7% this morning, FCPO may test support 1st later.

 

Daily chart show FCPO retreat from outside of BB, may retest middle line of BB which is around 2440, overall trend remain sideway to lower. In hourly chart, technical indicators crossing down, show that FCPO may test low of 6 Apr at around 2455.

 

 Classic Support & Resistance 

Resistance:  2510 2530 2546 

Support:   2415 2383

 

 Recommend Trading Plan for the day: 

1. Sell 2458, stop 2470, profit 2446/2434.

2. Look for buy signal if break above 2490.

 

 FCPO Margin Requirement 

Intraday     MYR 2250

Overnight  MYR 4500

Spread       MYR 1000

 

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