6/6/2018
*FCPO Aug 18*
Previous Close: 2402 -7
FCPO gap down below 2400 yet manage to sustain above the level at close, trend remains in sideway. Watch out for more production & export data. US soyoil below 31 while Dalian palm olein no changes at this morning, expect FCPO to continue trade in tight 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 bullish divergence but overall trend in sideway to lower.
*Classic Support & Resistance*
Resistance: 2421 2457
Support: 2382 2354
*Recommend Trading Plan for the day:*
1. Sell 2399, stop 2409, profit 2389/2379.
2. Look for buy signal if sustain above 2421.
*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1000
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