FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 10/10/2018 - Key data day, be cautious of volatility
InvestorsDoctor
Publish date: Wed, 10 Oct 2018, 09:51 AM
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10/10/2018
*FCPO Dec 18*
Previous Close: 2205 +18
Please be noted that FCPO will change active month on next Monday 15/10, traders may choose to trade Jan 19 contract. FCPO edged up yesterday, back to above 2200 as supported by gains in related edible oils. Watch out for MPOB , Oct 1-10 export & production data.
Hourly chart showed FCPO in technical correction, break below 2179 likely to close downside gap. Key Fibo support level located at 2176/2160, Close below these levels likely to retest 2137 previous low.
*Classic Support & Resistance*
Resistance: 2235 2274
Support: 2179 2137
*Recommend Trading Plan for the day:*
1. Buy 2212, stop 2202, profit 2222/2232.
2. Look for sell signal below 2179.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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