FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 12/10/2018 - Related oils recovered from losses, watch out for CPO rebound signal

InvestorsDoctor
Publish date: Fri, 12 Oct 2018, 10:30 AM
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12/10/2018

 
*FCPO Dec 18*
 
Previous Close: 2171 -22
 
Please be noted that FCPO will change active month on next Monday 15/10, traders may choose to trade Jan 19 contract. FCPO fell 1% yesterday as tracking weakness in global stocks & commodities markets. US soyoil back to above 29 while Dalian palm olein up near 1% this morning, FCPO likely to gap up and test rebound.
 
Hourly chart showed FCPO closed downside gap, break below 2137 will trigger more downside. Today likely to test upside gap 1st.
 
 *Classic Support & Resistance* 
Resistance: 2190 2217 2235
Support: 2137 2088
 
 *Recommend Trading Plan for the day:* 
1. Look for rebound buy signal above 2177.
2. Look for sell signal below 2153.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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