FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 15/10/2018 - Watch out Oct 1-15 CPO Data

InvestorsDoctor
Publish date: Mon, 15 Oct 2018, 10:21 AM
InvestorsDoctor
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15/10/2018

 
*FCPO Jan 19*
 
Previous Close: 2193 +22
 
Please be noted that FCPO will change active month by today, traders may choose to trade Jan 19 contract. FCPO covered previous loss with 1% gain on last Friday as tracking gains in related edible oils. Watch out for Oct 1-15 export & production data. Related edible oils continue to go up this morning, FCPO may gap up and test resistance.
 
Hourly chart showed FCPO in a sideway, wait for breakout, but slightly more to downside as the price unable to sustain 61.8 Fibo level of swing 2372-2170.
 
 *Classic Support & Resistance* 
Resistance: 2291 2341
Support: 2222 2170
 
 *Recommend Trading Plan for the day:* 
1. Buy 2259, stop 2248, profit 2270/2281.
2. Look for sell signal below 2240.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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