FCPO - Rebound but not Reversal
FCPO rebound with stronger soybean oil and crude oil. However there is no indication of bearish reversal at current price level. The latest MPOA data suggested strong production in Sarawak region, the concern of high inventory remain in the air.
FCPO had relatively weak rebound as price hovering below 2172. Higher than 2180 may see price testing previous gap 2200. Long term support 2137 (on the left chart) as prove to be supportive in the short term.
Trader please monitor today export data for 1-25 Sep.
FCPO had relatively weak rebound as price hovering below 2172. Higher than 2180 may see price testing previous gap 2200. Long term support 2137 (on the left chart) as prove to be supportive in the short term.
Trader please monitor today export data for 1-25 Sep.
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