FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/10/2018 - Lower highs & lows, bearish with possible oversold rebound in short term
InvestorsDoctor
Publish date: Fri, 26 Oct 2018, 10:06 AM
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26/10/2018
*FCPO Jan 19*
Previous Close: 2176 -24
FCPO fell more than 1% yesterday as tracking weakness in related edible oils. Watch out for Oct 1-25 CPO production data. Dalian palm olein & US soyoil showed some rebound, FCPo may test resistance 1st.
Hourly chart showed a sideway to lower trend but testing a technical rebound from RSI oversold.
*Classic Support & Resistance*
Resistance: 2207 2248
Support: 2137 2100
*Recommend Trading Plan for the day:*
1. Buy 2180 for technical rebound, stop 2170, profit 2190/2200.
2. Look for sell signal below 2166.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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