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FCPO Updates

Author: InvestorsDoctor   |   Latest post: Tue, 19 Mar 2019, 10:28 AM

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 15/3/2019 - More to bearish but watch out for RSI bullish divergence

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15/3/2019

 
*FCPO June 19*
 
Previous Close: 2105 -21
 
FCPO marked a 7 days of losses in a row to more than 3 month low yesterday over concerns of bearish CPO outlook and EU ban against usage of CPO. Watch out for Mar 1-15 export & production data.
 
Hourly chart formed lower highs & lows, more to bearish, but be cautious of potential RSI bullish divergence.
 
*Classic Support & Resistance* 
Resistance: 2168 2218
Support: 2069 2015
 
 *Recommend Trading Plan for the day:* 
1. Sell 2101, stop 2109, profit 2093/2085/2077.
2. Sell 2090, stop 2098, profit 2082/2074/2066.
3. Buy 2116 for technical rebound, stop 2108, profit 2124/2132/2140.
 
 *FCPO Margin Requirement* 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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