FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/6/2018 - Slumps to 2 year low tracking weaker related oils

InvestorsDoctor
Publish date: Wed, 20 Jun 2018, 10:52 AM
InvestorsDoctor
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20/6/2018

*FCPO Sep 18*

Previous Close: 2263 -44

FCPO slumped to its lowest since July 2016 as tracking weakness in related edible oils, especially Dalian palm olein limit down yesterday. Watch out for CPO June 1-20 production & export data. US soyoil see some rebound this morning while Dalian palm olein -1.4%, may limit upside of FCPO.

Daily & hourly chart show FCPO formed lower highs & lows, trend more to bearish but RSI in oversold, may trigger technical rebound in short term.

*Classic Support & Resistance*
Resistance: 2306 2338
Support: 2224 2186

*Recommend Trading Plan for the day:*
1. Look for sell signal if break below 2238.
2. Buy 2270 for technical rebound, stop 2258, profit 2282/2294.

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

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