FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/6/2018 - Will rebound end because of trade war concerns?
InvestorsDoctor
Publish date: Tue, 26 Jun 2018, 09:40 AM
InvestorsDoctor
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26/6/2018
*FCPO Sep 18*
Previous Close: 2290 +6
FCPO reversed earlier losses to close slightly higher as declining production supported the price. Watch out for June 1-25 Sppoma production data. US soyoil & Dalian palm olein droped back on trade war concerns, FCPO may gap down and test support 1st.
Daily chart showed a technical rebound from RSI oversold, while shorter time frame continue its double bottom rebound, now testing Fibo extension level.
*Classic Support & Resistance*
Resistance: 2336 2366
Support: 2238 2186
*Recommend Trading Plan for the day:*
1. If expect price to retrace 1st, sell 2288, stop 2297, profit 2279/2270.
2. Look for buy signal if price sustain above 2300 level.
*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1200
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Since 14th May 2018 (stock market reopened after 509 GE-14), FKLI Futures dropped nearly 200.5 points from high 1876.5 to recent low 1676!
Simple Calculation:
200.5 x RM 50 per index point = RM 10,025 (Potential Profit!)
Well, NOW is the time for you to understand more about FKLI Trading!
Come & Join us on 14th July 2018 from 2PM to 4PM at SI Academy.
IDA will discover together with You - What is FKLI............
https://goo.gl/forms/SyxDaLNwkuYagkA02
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