FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/9/2018 - Rebound for 2nd day, watch out Sept 1-25 CPO production
InvestorsDoctor
Publish date: Wed, 26 Sep 2018, 09:29 AM
InvestorsDoctor
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26/9/2018
*FCPO Dec 18*
Previous Close: 2181 +18
FCPO edged up for 2nd day as tracking strength in related edible oils and supported by weaker MYR. Watch out for Sept 1-25 CPO production data. Dalian palm olein & US soyoil gained on this morning, FCPO may continue to test rebound.
Daily & hourly charts showed FCPO testing rebound from near 3 year low, next price target level located at around 2200, 2220 & 2240 based of Fibo retracement level of swing 2303-2137.
*Classic Support & Resistance*
Resistance: 2218 2250
Support: 2137 2088
*Recommend Trading Plan for the day:*
1. Buy 2190, stop 2178, profit 2202/2214.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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