FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/10/2018 - More to bearish, watch out CPO Oct 1-25 production & export data
InvestorsDoctor
Publish date: Thu, 25 Oct 2018, 09:59 AM
InvestorsDoctor
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25/10/2018
*FCPO Jan 19*
Previous Close: 2200 -18
FCPO settled lower yesterday to test 2200 level as tracking weakness in crude oil and related edible oils. Watch out for Oct 1-25 CPO production & export data. Dalian palm olein & US soyoil still fall on this morning, FCPo likely to test support.
Hourly chart remains below 38.2 Fibo retracement of swing 2170-2293 with lower highs & lows, mroe to bearish.
*Classic Support & Resistance*
Resistance: 2293 2372
Support: 2170 2120
*Recommend Trading Plan for the day:*
1. If expect FCPO to track weakness of related edible oils, sell 2200 or above ,stop 2208, profit 2192/2184/2176.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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