FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 8/10/2018 - Watch out for Dalian market resume and CPO MPOB data

InvestorsDoctor
Publish date: Mon, 08 Oct 2018, 09:38 AM
InvestorsDoctor
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8/10/2018

 
*FCPO Dec 18*
 
Previous Close: 2221 -9
 
Please be noted that FCPO will change active month on next Monday 15/10, traders may choose to trade Jan 19 contract. FCPO closed slightly lower on last Friday as profit taking before the weekend and as tracking weakness in US soyoil. Dalian palm olein resumed market with gains, while US soyoil in flat. Watch out for CPO MPOB data on 10 Oct 18. 
 
Hourly chart showed FCPO rebound momentum become weak, required to break above 2235 to trigger further rebound signal. 
 
 *Classic Support & Resistance* 
Resistance: 2274 2303
Support: 2179 2137
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 2235.
2. If price retrace 1st, look for buy signal near 2200.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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