FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Plam Oil] 4/6/2018 - Market stay cautious ahead of data ...

InvestorsDoctor
Publish date: Mon, 04 Jun 2018, 10:20 AM
InvestorsDoctor
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4/6/2018

*FCPO Aug 18*

Previous Close: 2439 +10

FCPO continued to close in range ahead of MPOB data. US soyoil not much changes last week, while Dalian plam olein +0.9% this morning, expect FCPO to gap up and test resistance 1st.

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: 2482 2510
Support: 2395 2352

*Recommend Trading Plan for the day:*
1. Buy 2451, stop 2436, profit 2466/2481.
2. Look for sell signal if unable to sustain above 2450.

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

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