11/6/2018

*FCPO Aug 18*

Previous Close: 2366 -21

Please be noted that FCPO will change active month on this Thursday, traders may choose to trade Sep 18 contract. FCPO extended its losses to more than 1 month low as market withdraw before the data and as tracking weakness in related edible oil. US soyoil go lower while Dalian palm olein no changes at the moment, FCPO may test support 1st. Jun 1-10 CPO export data more to bearish, continue to watch out for MPOB & Sppoma production data.

Daily chart show a sideway to lower trend and MACD starts to cross down, may weigh down the price. However there is a bullish divergence in hourly chart, may trigger technical rebound in short term.

*Classic Support & Resistance*
Resistance: 2399 2413 2457
Support: 2324 2300

*Recommend Trading Plan for the day:*
1. Sell 2359, stop 2369, profit 2349/2339.

*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1200






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