FCPO (15 mins chart)
FCPO has made a fair bit of consolidation for 3 days shedding approximately 280 points or 7.4% equivalent since the top of 3766. The consolidation has been countered with a fast pullback towards the 3630 amid stronger outlook towards CPO pricing. CPO immediate outlook is still strong while 3766 would be a key resistant to be taken over before spearheading to the next level. Cautious long is recomended where stops are to be place near the 3600 level.
Immediate Resistant : 3700
Immediate Support : 3630
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