FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 1/8/2018 - Remain in range after Jul CPO export data, wait for breakout

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Publish date: Wed, 01 Aug 2018, 10:18 AM
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1/8/2018

 
*FCPO Oct 18*
 
Previous Close: 2194 +2
 
FCPO traded in tight range after a decline in Jul CPO export. US soyoil rebounded to above 29 while Dalian palm olein +0.2% this morning, FCPO may test 2200 level 1st. Watch out for Jul CPO production data.
 
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. Trade in range 2170-2210.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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