FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/10/2018 - Bullish Sppoma pushed up price, but be cautious as oil sharp fall may cap upside
InvestorsDoctor
Publish date: Thu, 18 Oct 2018, 09:49 AM
InvestorsDoctor
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18/10/2018
*FCPO Jan 19*
Previous Close: 2261 +17
FCPO climb to 5 week high as tracking strength in related edible oils and as Sppoma showed a declining CPO production data. Dalian palm olein & US soyoil drop on this morning after a sharp fall in WTI crude oil, FCPO may test support level 1st.
Hourly chart showed FCPO still moving in a range from 2222-2293, wait for breakout
*Classic Support & Resistance*
Resistance: 2293 2341
Support: 2222 2170
*Recommend Trading Plan for the day:*
1. Buy 2266, stop 2256, profit 2276/2286.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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