FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 16/10/2018 - Less improvement for CPO export, watch out Sppoma production
InvestorsDoctor
Publish date: Tue, 16 Oct 2018, 10:02 AM
InvestorsDoctor
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16/10/2018
*FCPO Jan 19*
Previous Close: 2242 -11
FCPO settled slight lower yesterday on negative CPO export data. Watch out for Oct 1-15 CPO production data. Related edible oils rebound this morning, FCPO may test resistance 1st.
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: 2293 2341
Support: 2222 2170
*Recommend Trading Plan for the day:*
1. Sell 2239, stop 2247, profit 2231/2223.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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