15/11/2018

*FCPO Feb 19*

Previous Close: 2039 -41

Please be noted that FCPO active month will change by today, 15 Nov, traders may choose to trade Feb 19 contract. FCPO Jan 19 contract closed below 2000 for the 1st time since 2015 as weighed down by losses in related edible oils & crude oil. Dalian palm olein & US soyoil not much changes this morning, FCPO may enter sideway to lower trend. Watch out for CPO Nov 1-15 production & export data.

Hourly chart break lower low, more to bearish, but be cautious as RSI in oversold.

*Classic Support & Resistance*
Resistance: 2100 2125
Support: 2000 1950

*Recommend Trading Plan for the day:*
1. Sell 2033, stop 2044, profit 2022/2011/2000.
2. Look for close gap signal above 2059.

*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200

Disclaimer: Idea sharing only, trade at your own risk.

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