FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 10/8/2018 - Market stay cautious ahead of important data day
InvestorsDoctor
Publish date: Fri, 10 Aug 2018, 09:32 AM
InvestorsDoctor
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10/8/2018
*FCPO Oct 18*
Previous Close: 2246 -12
Please be noted that Aug 18 contract will be expired on next 15/8, active month also will change, traders may choose to trade Nov 18 contract. FCPO traded in tight range ahead of data. Watch out for MPOB Jul data, Aug 1-10 export & production data. Related edible oils dropped slightly last night, FCPO may test support 1st.
Hourly chart showed FCPO retreat from RSI overbought, but still remain in rebound stage.
*Classic Support & Resistance*
Resistance: 2272 2316
Support: 2219 2176
*Recommend Trading Plan for the day:*
1. Sell 2240 for technical correction, stop 2250, profit 2230/2220.
2. Look for buy signal above 2265.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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