FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/9/2018 - Rebound on weak MYR and gains in related edible oils
InvestorsDoctor
Publish date: Thu, 27 Sep 2018, 09:44 AM
InvestorsDoctor
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27/9/2018
*FCPO Dec 18*
Previous Close: 2190 +9
FCPO settled slightly higher on weaker MYR and tracking strength in related edible oils but upside was limited by concerns about rising CPO inventories. Dalian palm olein & US soyoil down a little bit this morning, FCPo may test support 1st.
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: 2151 2137
*Recommend Trading Plan for the day:*
1. Look for buy signal above 2199.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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