FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/7/2018 - Trade in flat as market awaiting MPOB result

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Publish date: Tue, 03 Jul 2018, 09:53 AM
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3/7/2018

 
FCPO Sep 18
 
Previous Close: 2329 +3
 
FCPO traded in flat yesterday after a mixed production & export data. Watch out for MPOB survery data. US soyoil & Dalian palm olein dropped slightly, FCPO may test support 1st.
 
Daily chart showed FCPO testing rebound above middle line of BB, yet to be confirmed, while hourly chart testing Fibo retracement 38.2% of around 2340, from previous down swing (2498-2238)
 
 Classic Support & Resistance 
Resistance: 2366 2399
Support: 2271 2238
 
 Recommend Trading Plan for the day: 
1. Trade in range 2310-2350.
 
 FCPO Margin Requirement 
Intraday MYR 2250
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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