FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 22/6/2018 - Move in tight range, watch out for MPOA production data
InvestorsDoctor
Publish date: Fri, 22 Jun 2018, 10:09 AM
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22/6/2018
*FCPO Sep 18*
Previous Close: 2251 -11
FCPO closed slightly lower and traded in flat range despite a decrease in Sppoma production & rebound of related oils. US soyoil & Dalian palm olein not much changes, FCPO likely to continue move in range, wait for breakout. Watch out for MPOA production data.
Daily chart formed bearish candles in a row and near 2 year low, more to bearish, but watch out for potential technical rebound signal from RSI oversold.
*Classic Support & Resistance*
Resistance: 2276 2306
Support: 2186 2160
*Recommend Trading Plan for the day:*
1. Trade in range 2230-2280.
*FCPO Margin Requirement*
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1200
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