20/7/2018
*FCPO Oct 18*
Previous Close: 2193 -18
FCPO down slightly on profit taking ahead of data. Watch out for Jul 1-20 CPO Amspec export, Sppoma & MPOA production data. US soyoil & Dalian palm olein both show correction, FCPO likely to test support 1st.
Daily chart formed a dark cloud cover bearish candle, wait for confirmation, while Hourly chart remains in technical rebound from RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 2222 2275
Support: 2156 2088
*Recommend Trading Plan for the day:*
1. Look for sell signal below 2185.
2. Look for buy signal above 2220.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
Join our channels to find out more!
Telegram link:
https://t.me/investorsdoctoracademy