FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 15/8/2018 - Supported by weaker MYR but in a tight range
InvestorsDoctor
Publish date: Wed, 15 Aug 2018, 10:57 AM
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15/8/2018
FCPO Nov 18
Previous Close: 2237 -11
Please be noted that Aug 18 contract will be expired today, active month also will change, traders may choose to trade Nov 18 contract.
FCPO recovered from losses as lifted by weaker MYR. Watch out for Aug 1-15 export & production data. US soyoil more to bearish while Dalian palm olein not much changes this morning, FCPO likely to be supported by weaker MYR.
Daily chart showed FCPO testing middle line of BB, which is also around 50% Fibo retracement of previous upswing 2156-2291, watch out for any rebound signal from Fibo level.
Classic Support & Resistance
Resistance: 2291 2349
Support: 2156 2098
Recommend Trading Plan for the day:
1. Trade in range 2220-2255, wait for breakout.
FCPO Margin Requirement
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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