1/6/2018

FCPO Aug 18

Previous Close: 2429 -11

FCPO settled slightly lower yesterday as profit taking buy some last minute selling amid of market close. Watch out for May whole month Sppoma production data. US soyoil not much changes at around 31 while Dalian palm olein -0.5% this morning, expect FCPO to continue move in range.

Daily chart show FCPO traded in sideway but there is a potential bearish divergence between price & RSI, be cautious of technical correction. Hourly chart show a sideway trend, wait for further breakout.

*Classic Support & Resistance*
Resistance: 2452 2482
Support: 2395 2368

*Recommend Trading Plan for the day:*
1. Trade in range 2400-2450.

*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1000

*CPO Data May 2018*

*MPOB (Apr 18)*
Stocks: 2.17 million tonnes (-6.4%)
Production: 1.56 million tonnes (-1.0%)
Exports: 1.54 million tonnes (-1.6%)

*Amspec Export*
May 1-10: 406,689 vs 449,997 (-9.62%)
May 1-15: 539,084 vs 633,530 (-14.91%)
May 1-20: 736,942 vs 931,758 (-20.9%)
May 1-25: 983,656 vs 1,157,020 (-14.98%)
*May 1-31: 1,196,805 vs 1,311,770 (-8.76%)*

*SPPOMA Production*
May 1-5: -18.89%
May 1-10: -18.51%
May 1-15: -9.45%
May 1-20: -9.94%
May 1-25: -4.80%

*MPOA 1-20th May 2018*
Pen Msia -15.6%
Sabah -13.3%
Sarawak -4.7%
Whole Malaysia -14.3%

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