18/4/2018

 

FCPO Jul 18

 

Previous Close: 2408 +39

 

FCPO rebounded from losses to gain over 1% near the end of the day as lifted by last minute buying. US soyoil formed lower low, show more downside while Dalian palm olein +0.16%, expect limited upside for FCPO.

 

Daily chart show a strong rebound near previous low of 2352, watch out whether today will continue to sustain above 2400 level.

 

 Classic Support & Resistance 

Resistance:  2434 2449 2483

Support:   2352 2300

 

 Recommend Trading Plan for the day: 

1. Sell 2397, stop 2412, profit 2382/2367.

2. Look for buy signal if break above yesterday high of 2434.

 

 FCPO Margin Requirement 

Intraday     MYR 2250

Overnight  MYR 4500

Spread       MYR 1000

 

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