FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 31/10/2018 - Sideway to lower, watch out for Oct 18 CPO production & export data

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Publish date: Wed, 31 Oct 2018, 10:05 AM
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31/10/2018

 
*FCPO Jan 19*
 
Previous Close: 2169 -18
 
FCPO fell on yesterday on weak related edible oils' price. Dalian palm olein & US soyoil still weak this morning, likely to limit upside of FCPO. Watch out for CPO Oct 18 production & export data.
 
Hourly chart showed FCPO move in BB channel, with overall trend sideway to lower, close below 2137 to trigger more downside.
 
 *Classic Support & Resistance* 
Resistance: 2193 2207 2248 
Support: 2137 2088
 
 *Recommend Trading Plan for the day:* 
1. Wait for more breakout signal.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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