FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 30/10/2018 - Strong rebound on technical buying and weaker MYR
InvestorsDoctor
Publish date: Tue, 30 Oct 2018, 10:13 AM
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30/10/2018
*FCPO Jan 19*
Previous Close: 2187 +39
FCPO rose nearly 2% as supported by technical buying and weaker MYR, but weakening related edible oils may cap upside of FCPO.
Hourly chart showed a technical rebound from RSI oversold, required to close above 2220 to trigger further rebound signal, with now testing 38.2 Fibo retracement of swing 2265-2145.
*Classic Support & Resistance*
Resistance: 2207 2248 2265
Support: 2137 2088
*Recommend Trading Plan for the day:*
1. Buy 2194, stop 2183, profit 2205/2216.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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