FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 19/6/2018 - Slip over 1% on weaker demand & related oils

InvestorsDoctor
Publish date: Tue, 19 Jun 2018, 09:59 AM
InvestorsDoctor
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19/6/2018

*FCPO Sep 18*

Previous Close: 2307 -29

FCPO fell over 1% yesterday on the back of weaker export and weakness in related edible oil, watch out for June 1-15 production data & 1-20 export & production. US soyoil continue to trend lower on trade war tension while Dalian palm olein no changes this morning, FCPO upside likely limited on weak fundamentals, see whether trade war may benefit demand of CPO.

Daily & hourly chart show FCPO formed lower highs & lows, trend more to bearish and testing oversold zone.

*Classic Support & Resistance*
Resistance: 2338 2366
Support: 2303 2287

*Recommend Trading Plan for the day:*
1. Sell 2302, stop 2309, profit 2295/2288.

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

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