FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 19/9/2018 - Rising production & trade war tension sent FCPO lower

InvestorsDoctor
Publish date: Wed, 19 Sep 2018, 09:25 AM
InvestorsDoctor
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19/9/2018

 
*FCPO Dec 18*
 
Previous Close: 2198 -47
 
FCPO fell more than 2% on rising production & trade war tension. Related edible oils continue to fall this morning, FCPO likely to gap down and test support.
 
Hourly chart showed FCPO closed previous downside gap, hit its lowest since end of July, close below 2179 to trigger more downside.
 
 *Classic Support & Resistance* 
Resistance: 2226 2275
Support: 2179 2140
 
 *Recommend Trading Plan for the day:* 
1. Sell 2194, stop 2202, profit 2186/2178.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200

Disclaimer: Idea sharing only, trade at your own risk.
 
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