FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 22/10/2018 - Sideway to lower trend, watch out Oct 1-20 CPO data
InvestorsDoctor
Publish date: Mon, 22 Oct 2018, 09:56 AM
InvestorsDoctor
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22/10/2018
*FCPO Jan 19*
Previous Close: 2224 -15
FCPO continue to close lower on last Friday as tracking weaker related edible oils. Dalian palm olein recover from losses while US soyoil back to above 29, expect FCPO to remain in range and may test 2231 last Friday high.
Hourly chart showed FCPO in a sideway, wait for breakout, but slightly more to downside as the price stay below 38.2 Fibo level of swing 2372-2170.
*Classic Support & Resistance*
Resistance: 2293 2341
Support: 2170 2120
*Recommend Trading Plan for the day:*
1. Look for close gap signal above 2231.
2. Look for sell signal below 2215.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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