![](/files/my/blog/img/bl3939_cpo281118.png)
28/11/2018
*FCPO Feb 19*
Previous Close: 1966 -6
FCPO fell for 3rd day as pressured by a change in export levies by Indonesia and as tracking weakness in related edible oils. Related edible oils showed some rebound, FCPO may gap up and test rebound 1st.
Hourly chart formed new low and test rebound from RSI bullish divergence. Trend more to bearish, required to close above 61.8 Fibo retracement level at around 2025 to trigger rebound signal to previous high at 2078.
*Classic Support & Resistance*
Resistance: 2030 2078
Support: 1914 1863
*Recommend Trading Plan for the day:*
1. Look technical rebound buy signal above 1977.
2. Look for sell signal below 1940.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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