FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 29/8/2018 - Bullish CPO price outlook pushed up FCPO
InvestorsDoctor
Publish date: Wed, 29 Aug 2018, 09:52 AM
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29/8/2018
FCPO Nov 18
Previous Close: 2232 +33
FCPO erased its previous losses with gains of more than 1% as supported by a bullish price outlook by analyst in an industry conference. Dalian palm olein & US soyoil up slightly this morning, FCPO likely to sustain above 2200 level.
Hourly chart showed FCPO back to previous range and test 61.8 Fibo level of down swing 2260-2197, which is around 2236, waiting confirmation.
Classic Support & Resistance
Resistance: 2265 2316
Support: 2192 2140
Recommend Trading Plan for the day:
1. Buy 2239, stop 2230, profit 2248/2257.
FCPO Margin Requirement
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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