FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 2/8/2018 - Test to break 2220 previous high

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Publish date: Thu, 02 Aug 2018, 09:43 AM
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2/8/2018

 
*FCPO Oct 18*
 
Previous Close: 2212 +18
 
FCPO marked its return to above 2200 on slowing increase of Sppoma production. Dalian palm olein +1.39% this morning, expect FCPO to continue test higher.
 
Hourly chart showed FCPO entered into a sideway range (2140-2220), wait for breakout. Close above 2220 to trigger double bottom rebound signal.
 
 *Classic Support & Resistance*
Resistance: 2220 2272
Support: 2140 2100
 
 *Recommend Trading Plan for the day:*
1. Buy 2221, stop 2211, profit 2231/2241.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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