FCPO Updates

22 Nov - FCPO Oversold, But Stronger Ringgit Continue to Pressure Price

InvestorsDoctor
Publish date: Wed, 22 Nov 2017, 10:20 AM
InvestorsDoctor
0 1,969
To get more timely information on local and foreign futures markets, join us on telegram and Facebook.

Join link: https://t.me/investorsdoctoracademy

Facebook: https://m.facebook.com/investorsdoctoracademy/
Following Message
22/11/2017
 
FCPO Feb 18
 
Previous Close: 2622 -8
 
 
FCPO rebound near market end yesterday, supported by late buying after top buyer India raised its import duties on veg oil. Dalian palm olein rebounds 0.32% this morning while US soyoil up abit to 34.3+ now. FCPO may open high later but watch out as MYR getting stronger, may cap upside of FCPO price.
 
Daily chart show FCPO closed with white candle for 1st day after continuous days of losses, formed a bottom rebound signal, wait today close with gain to confirm. Hourly chart show price rebounds from RSI oversold, may test middle of BB which is also resistance around 2670.
 
 Price Level to monitor today: 
Resistance:     2670 2712
Support:     2586
 
 Recommend Trading Plan for the day: 
1. Look for further buy signal if open high above 2635.
 
 FCPO Margin Requirement 
Intraday     MYR 2250
Overnight  MYR 4500
Spread   MYR 1000
 
Disclaimer: Idea for sharing purpose, trade at your own risk.
More articles on FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 31/12/2019 Bullish but be cautious of overbought

Created by InvestorsDoctor | Dec 31, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 30/12/2019 Bullish but be cautious of overbought

Created by InvestorsDoctor | Dec 30, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/12/2019 Close above 3000, sustain above this level for more upside

Created by InvestorsDoctor | Dec 27, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/12/2019 Sideway to higher, wait for breakout

Created by InvestorsDoctor | Dec 26, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 24/12/2019 Sideway to higher, wait for breakout

Created by InvestorsDoctor | Dec 24, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 23/12/2019 Sideway to higher, wait for breakout

Created by InvestorsDoctor | Dec 23, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/12/2019 Strong rebound in related edible oils, FCPO likely gap up

Created by InvestorsDoctor | Dec 20, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 19/12/2019 Break down from sideway, triggered technical correction signal

Created by InvestorsDoctor | Dec 19, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/12/2019 Sideway to higher, 2930 or 2850 wait for breakout

Created by InvestorsDoctor | Dec 18, 2019

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 17/12/2019 Sideway to higher, 2930 or 2850 wait for breakout

Created by InvestorsDoctor | Dec 17, 2019

Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment