24/9/2018
*FCPO Dec 18*
Previous Close: 2143 -14
FCPO closed to near 3 year low as weighed down by output concerns. Dalian palm olein close for festival while US soyoil see a strong rebound to above 28, likely to support FCPO price.
Daily & hourly charts formed lower lows, more to bearish, but watch out for potential technical rebound as RSI in oversold.
*Classic Support & Resistance*
Resistance: 2162 2191
Support: 2088 2046
*Recommend Trading Plan for the day:*
1. Sell 2137, stop 2147, profit 2127/2117.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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