FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/7/2018 - Watch out for Jul 1-20 CPO data!

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Publish date: Fri, 20 Jul 2018, 09:59 AM
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20/7/2018

 
*FCPO Oct 18*
 
Previous Close: 2193 -18
 
FCPO down slightly on profit taking ahead of data. Watch out for Jul 1-20 CPO Amspec export, Sppoma & MPOA production data. US soyoil & Dalian palm olein both show correction, FCPO likely to test support 1st.
 
Daily chart formed a dark cloud cover bearish candle, wait for confirmation, while Hourly chart remains in technical rebound from RSI bullish divergence.
 
 *Classic Support & Resistance*
Resistance: 2222 2275
Support: 2156 2088
 
 *Recommend Trading Plan for the day:*
1. Look for sell signal below 2185.
2. Look for buy signal above 2220.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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