21/6/2018

*FCPO Sep 18*

Previous Close: 2262 -1

FCPO traded in tight range and close in flat yesterday, but still in low range as weighed down by weaker related oils. Watch out for CPO June 1-20 Sppoma & MPOA production data. US soyoil & Dalian palm olein both show gains, FCPO may gap up and test rebound.

Daily & hourly chart show FCPO formed lower highs & lows, trend more to bearish but RSI in oversold, may trigger technical rebound in short term.

*Classic Support & Resistance*
Resistance: 2306 2338
Support: 2224 2186

*Recommend Trading Plan for the day:*
1. Buy 2268 for technical rebound, stop 2258, profit 2278/2288.
2. Look for sell signal if break below 2238 previous low.

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

CPO Data June 2018

MPOB (May 18)
Stocks: 2.17 million tonnes (-0.5%)
Production: 1.53 million tonnes (-2.1%)
Exports: 1.29 million tonnes (-15.65%)

Amspec Export
Jun 1-10: 324,947 vs 406,689 (-20.1%)
Jun 1-15: 500,197 vs 539,084 (-7.21%)
Jun 1-20: 690,015 vs 736,942 (-6.37%)

SPPOMA Production
Jun 1-10: +10.86%
Jun 1-15: -5.30%

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