FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 21/8/2018 - FCPO continue to test rebound but stronger MYR may limit its upside

InvestorsDoctor
Publish date: Tue, 21 Aug 2018, 09:51 AM
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21/8/2018

 
*FCPO Nov 18*
 
Previous Close: 2255 +17
 
FCPO rose on yesterday as CPO export showed some recovery and as tracking gains in related edible oils. Watch out for Aug 1-20 Sppoma & MPOA production data. Dalian palm olein & US soyoil declined after a weaker USD, may cause FCPO to test support 1st.
 
Daily & hourly chart showed FCPO in testing rebound to the upside gap around 2270, wait for more breakout signal.
 
 *Classic Support & Resistance*
Resistance: 2271 2291
Support: 2233 2201
 
 *Recommend Trading Plan for the day:*
1. Buy 2261, stop 2253, profit 2269/2277.
 
 *FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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