FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/7/2018 - Intertek reported positive export data, will FCPO rebound or break previous low?

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Publish date: Wed, 25 Jul 2018, 10:13 AM
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25/7/2018

 
*FCPO Oct 18*
 
Previous Close: 2152 -17
 
FCPO fell to test previous low yesterday on expectation of rising production in coming weeks. US soyoil & Dalian palm olein showed technical rebound, plus Intertek reported positive CPO Jul 1-25 export data, FCPO may test to rebound 1st.
 
Daily & hourly chart show more to bearish, close below 2144 to trigger further down signal.
 
 *Classic Support & Resistance*
Resistance: 2189 2220
Support: 2100 2088
 
 *Recommend Trading Plan for the day:*
1. Look for sell signal below 2144.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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