FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 24/9/2018 - Will strong gains in US soyoil push up FCPO?

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Publish date: Mon, 24 Sep 2018, 09:26 AM
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24/9/2018

 
*FCPO Dec 18*
 
Previous Close: 2143 -14
 
FCPO closed to near 3 year low as weighed down by output concerns. Dalian palm olein close for festival while US soyoil see a strong rebound to above 28, likely to support FCPO price.
 
Daily & hourly charts formed lower lows, more to bearish, but watch out for potential technical rebound as RSI in oversold.
 
 *Classic Support & Resistance* 
Resistance: 2162 2191
Support: 2088 2046
 
 *Recommend Trading Plan for the day:* 
1. Sell 2137, stop 2147, profit 2127/2117.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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