FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 13/8/2018 - Supported by bullish CPO data, but weak related edible oils likely to limit upside

InvestorsDoctor
Publish date: Mon, 13 Aug 2018, 10:18 AM
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13/8/2018

 
*FCPO Oct 18*
 
Previous Close: 2242 -4
 
Please be noted that Aug 18 contract will be expired on 15/8, active month also will change, traders may choose to trade Nov 18 contract.
 
FCPO settled with almost no changes as bullish MPOB Jul data & Aug 1-10 export data offset recovering production & weak related edible oils. However, related edible oils dropped further, FCPO may gap down later and test support. Watch out for CPO 1-10 Sppoma production data.
 
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 2239 for technical correction, stop 2249, profit 2229/2219.
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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