FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 12/6/2018 - Bearish MPOB & June export data weighed down price

InvestorsDoctor
Publish date: Tue, 12 Jun 2018, 10:15 AM
InvestorsDoctor
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12/6/2018

*FCPO Aug 18*

Previous Close: 2360 -6

Please be noted that FCPO will change active month on this Thursday, traders may choose to trade Sep 18 contract. FCPO closed slightly lower yesterday after MPOB data show export decline more than expected and Jun 1-10 posted a poor export too, fundamentally more to bearish. US soyoil show some rebound last night while Dalian palm olein unchanged this morning, FCPO may trade in range 1st.

Daily chart show a sideway to lower trend and MACD starts to cross down, may weigh down the price.

*Classic Support & Resistance*
Resistance: 2399 2457
Support: 2324 2300

*Recommend Trading Plan for the day:*
1. Look for sell signal below 2345.

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

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