FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 7/11/2018 - Fell more than 1% on bearish MPOB survey data
InvestorsDoctor
Publish date: Wed, 07 Nov 2018, 10:22 AM
InvestorsDoctor
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7/11/2018
*FCPO Jan 19*
Previous Close: 2122 -31
FCPO remains in more than 3 year low as pressured by weak crude oil price and related edible oil prices and as market stay cautious ahead of MPOB data. Related edible oil continue to fall this morning, FCPO likely gap down and test lower low.
2 Fibo retracement level draw from same bottom but different swing, indicated that FCPO price is more to bearish as it stay below 38.2 in both Fibo.
*Classic Support & Resistance*
Resistance: 2155 2193
Support: 2108 2088
*Recommend Trading Plan for the day:*
1. Sell 2117, stop 2126, profit 2108/2099/2090.
2. Look for more sell signal below 2108.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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