FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 28/8/2018 - Closed below 2200 on weakness on related edible oils
InvestorsDoctor
Publish date: Tue, 28 Aug 2018, 09:46 AM
InvestorsDoctor
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28/8/2018
*FCPO Nov 18*
Previous Close: 2199 -20
FCPO slipped to a more than 1 week low yesterday as tracking weakness in related edible oils and as MYR strengthened. US soyoil & Dalian palm olein showed rebound after US reached a deal with Mexico, FCPO today likely to test rebound 1st.
Daily & hourly charts showed FCPO will form a double top bearish signal if close below 2192.
*Classic Support & Resistance*
Resistance: 2237 2265
Support: 2176 2140
*Recommend Trading Plan for the day:*
1. If expect for a technical rebound, buy 2201, stop 2196, profit 2206/2211/2216.
2. Sell 2196, stop 2201, profit 2191/2186/2181.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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