FCPO Updates

[CPO Futures] - Potential Bearish Divergence

InvestorsDoctor
Publish date: Thu, 31 May 2018, 11:07 AM
InvestorsDoctor
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Following Message

31/5/2018

 
FCPO Aug 18
 
Previous Close: 2440 +22
 
FCPO settled slightly higher yesterday as tracking gains in related edible oils, sustain above 2400 level but overall in a sideway range. Watch out for May whole month export and production data. US soyoil & Dalian palm olein still in rebound, FCPO may test resistance 1st later.
 
Daily chart show FCPO traded in sideway but there is a  potential bearish divergence between price & RSI, be cautious of technical correction. 
 
 Classic Support & Resistance 
Resistance:  2452 2510
Support:   2368 2324
 
 Recommend Trading Plan for the day: 
1. Buy 2445, stop 2436, profit 2454/2463
2. Look for sell signal if break below 2422.
 
 FCPO Margin Requirement 
Intraday     MYR 2250
Overnight  MYR 4500
Spread       MYR 1000

 

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