FCPO CHART TRADING IDEAS (DAILY)(20180423)
Updated
TECHNICAL ANALYSIS:
1) BEARISH DIVERGENCE FORMING BETWEEN UPTREND ON CPO PRICE & DOWNTREND ON RSI
2) REBOUNCE ON DOWNTREND LINE
FUNDAMENTAL ANALYSIS:
1) SGS/AMSPEC 1-20TH EXPORT DATA SHOWS SLOWER DEMAND.
2) STRONGER SEASONAL PALM OIL OUTPUT.
3) DOWNTREND ON OVERNIGHT TRADES ON CBOT SOYOIL & RDB PALM OLEIN
1) BEARISH DIVERGENCE FORMING BETWEEN UPTREND ON CPO PRICE & DOWNTREND ON RSI
2) REBOUNCE ON DOWNTREND LINE
FUNDAMENTAL ANALYSIS:
1) SGS/AMSPEC 1-20TH EXPORT DATA SHOWS SLOWER DEMAND.
2) STRONGER SEASONAL PALM OIL OUTPUT.
3) DOWNTREND ON OVERNIGHT TRADES ON CBOT SOYOIL & RDB PALM OLEIN
Trade closed: target reached
(20180424) Entry Level @ 2406(20180503) Exit Level @2332
PROFIT = 74 TICKS (RM1850/LOT)
Comment: RSI Touching RSI30 level, exit on Oversold level
*Please refer to the link for the result
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