FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/7/2018 - Enter into flat range yet daily chart still bearish

InvestorsDoctor
Publish date: Wed, 18 Jul 2018, 09:46 AM
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18/7/2018

 
*FCPO Oct 18*
 
Previous Close: 2171 -2
 
FCPO traded in flat range yesterday as market wait for more catalyst. US soyoil not much changes, remain weak around 28, while Dalian palm olein +0.47% this morning, FCPO may test rebound 1st.
 
Daily chart showed FCPO still more to bearish as technical indicators pointed more to downside, but watch out for potential technical rebound i nshort term as there is a RSI bullish divergence in hourly chart.
 
 *Classic Support & Resistance*
Resistance: 2222 2275
Support: 2156 2088
 
 *Recommend Trading Plan for the day:*
1. Trade in range 2150-2190.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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