FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 4/7/2018 - Sustain above 2300
InvestorsDoctor
Publish date: Wed, 04 Jul 2018, 09:49 AM
InvestorsDoctor
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4/7/2018
*FCPO Sep 18*
Previous Close: 2313 -16
FCPO broke below 2300 during the session yesterday, but late buying pushed it back to above 2310. US soyoil & Dalian palm olein dropped slightly, FCPO may retest support 1st.
Daily chart showed FCPO testing rebound above middle line of BB, yet to be confirmed, but trend weakening with lower highs & lows. Hourly chart showed FCPO testing area 38.2-61.8 of Fibo retracement of previous swing (2238-2348)
*Classic Support & Resistance*
Resistance: 2348 2399
Support: 2271 2238
*Recommend Trading Plan for the day:*
1. Buy 2317 for technical rebound, stop 2308, profit 2326/2335.
2. Look for sell signal below 2296.
*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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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............
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