FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 24/7/2018 - Sppoma production build drag down price

InvestorsDoctor
Publish date: Tue, 24 Jul 2018, 10:21 AM
InvestorsDoctor
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24/7/2018

*FCPO Oct 18*

Previous Close: 2169 -25

FCPO declined yesterday after a surprise rise in Sppoma production, watch out for MPOA Jul 1-20 production data. Both US soyoil & Dalian palm olein fell, FCPO may test support 1st.

Daily & hourly chart show more to bearish, close below 2144 to trigger further down signal.

*Classic Support & Resistance*
Resistance: 2220 2272
Support: 2144 2100

*Recommend Trading Plan for the day:*
1. Sell 2166, stop 2173, profit 2159/2152.

*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200

Disclaimer: Idea sharing only, trade at your own risk.

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