FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 8/6/2018 - Continue in tight range ahead of MPOB official data

InvestorsDoctor
Publish date: Fri, 08 Jun 2018, 10:38 AM
InvestorsDoctor
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8/6/2018

*FCPO Aug 18*

Previous Close: 2387 -7

Please be noted that FCPO will change active month on next Friday, traders may choose to trade Sep 18 contract. FCPO traded in tight range but sustain below 2400 level as market stay cautious ahead of CPO data. US soyoil remains at low range around 30.50 while Dalian plam olein -0.4%, FCPO may gap down and test support.

Daily & hourly chart show a sideway to lower trend, wait for more breakout and volatility.

*Classic Support & Resistance*
Resistance: 2413 2457
Support: 2368 2352 2324

*Recommend Trading Plan for the day:*
1. Sell 2384, stop 2391, profit 2377/2370.
2. Look for buy signal if break above 2413.

*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1200

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