FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/9/2018 - Watch out Sep 1-20 CPO export & production data

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Publish date: Thu, 20 Sep 2018, 09:27 AM
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20/9/2018

*FCPO Dec 18*
 
Previous Close: 2157 -41
 
FCPO hit near 2 month low as tracking weakness in related edible oils and as concerns on rising production. Watch out for Sep 1-20 CPO export & production data. Related edible oils continue to fall, FCPO may gap down again.
 
Daily & hourly charts formed lower lows, more to bearish, but watch out for potential technical rebound as RSI in oversold.
 
 *Classic Support & Resistance* 
Resistance: 2191 2227
Support: 2141 2088
 
 *Recommend Trading Plan for the day:* 
1. Sell 2155, stop 2162, profit 2148/2141.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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