FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 30/7/2018 - Enter into range, wait for breakout 2140/2220

InvestorsDoctor
Publish date: Mon, 30 Jul 2018, 09:32 AM
InvestorsDoctor
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30/7/2018

 
*FCPO Oct 18*
 
Previous Close: 2186 -16
 
FCPO dropped to below 2200 on profit taking. US soyoil rebounded strongly to above 29 while Dalian palm olein +0.8% this morning, FCPO likely gap up and test rebound.
 
Hourly chart showed FCPO entered into a sideway range (2140-2220), wait for breakout.
 
 *Classic Support & Resistance*
Resistance: 2220 2272
Support: 2140 2100
 
 *Recommend Trading Plan for the day:*
1. Look for buy signal above 2220.
2. If expect FCPO to track strength of related edible oils, buy 2190, stop 2182, profit 2198/2206.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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