FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 24/8/2018 - Weighed down by supply concerns, may test support 1st
InvestorsDoctor
Publish date: Fri, 24 Aug 2018, 09:24 AM
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24/8/2018
*FCPO Nov 18*
Previous Close: 2218 -23
FCPO dragged down by more to bearish MPOA production data yesterday while related edible oils also showed weakness. Dalian palm olein & US soyoil recovered part of losses today, FCPO likely to remain in range.
Daily chart showed FCPO in testing rebound while hourly chart showed FCPO in sideway, wait for more volatility.
*Classic Support & Resistance*
Resistance: 2265 2316
Support: 2176 2140
*Recommend Trading Plan for the day:*
1. Sell 2216, stop 2222, profit 2210/2204.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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