FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 5/6/2018 - Fall & retest 2400 support level!

InvestorsDoctor
Publish date: Tue, 05 Jun 2018, 09:53 AM
InvestorsDoctor
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5/6/2018

*FCPO Aug 18*

Previous Close: 2409 -30

FCPO fell to test 2400 level yesterday as market expecting build up in inventories due to slowing export demand. US soyoil dropped to below 31 while Dalian palm olein -1.2%, FCPO likely gap down and test support.

Daily chart show FCPO traded in sideway but there is a potential bearish divergence between price & RSI, be cautious of technical correction. Hourly chart show a sideway to lower trend, wait for breakout.

*Classic Support & Resistance*
Resistance: 2457 2510
Support: 2354 2324

*Recommend Trading Plan for the day:*
1. Look for sell signal if break below 2395.

*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1000

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