FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/9/2018 - Will Sept 1-15 strong export data support FCPO ?
InvestorsDoctor
Publish date: Tue, 18 Sep 2018, 09:47 AM
InvestorsDoctor
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18/9/2018
*FCPO Dec 18*
Previous Close: 2245 -23
FCPO marked a 5 straight day losses as weighed down by bearish inventory and stronger MYR. Sep 1-15 showed a strong rebound in CPO export despite longer holidays against Aug 1-15, likely to support FCPO price. Related edible oils fell on this morning, FCPO may gap down 1st.
Hourly chart showed FCPO back to sideway range and approaching RSI oversold, watch out for any technical rebound signal.
*Classic Support & Resistance*
Resistance: 2275 2303
Support: 2226 2179
*Recommend Trading Plan for the day:*
1. If expect for a technical rebound, buy 2254 or below, stop 2244, profit 2264/2274.
2. Sell 2244, stop 2254, profit 2234/2224.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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