FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/8/2018 - Fell to below 2200 on trade war concerns

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Publish date: Fri, 03 Aug 2018, 09:57 AM
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3/8/2018

 
*FCPO Oct 18*
 
Previous Close: 2191 -21
 
FCPO fell on yesterday as tracking weakness in related edible oils on the back of trade war concerns.
 
Hourly chart showed a false breakout above 2220 and retreat to below 2200, close below 2176 may test previous low of 2140.
 
 *Classic Support & Resistance*
Resistance: 2233 2272
Support: 2140 2100
 
 *Recommend Trading Plan for the day:*
1. Sell 2188, stop 2194, profit 2182/2176.
2. Look for buy signal above 2215.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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