14/6/2018
*FCPO Sep 18*
Previous Close: 2320 -11
Please be noted market today only half trading session. FCPO traded in tight range but closed at lowest since July 2016 as tracking weakness in related edible oil & bearish CPO export & production data. US soyoil remains around 30 level support while Dalian palm olein +0.2% this morning, FCPO may test a technical rebound 1st.
Daily chart show FCPO gap down and close at lower low, more to bearish. Hourly chart show RSI in oversold now, watch out for potential technical rebound signal in short term.
*Classic Support & Resistance*
Resistance: 2366 2412
Support: 2287 2253
*Recommend Trading Plan for the day:*
1. Look for sell signal if break below 2303 yesterday low.
*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1200
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