FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 8/11/2018 - Lower low ahead of MPOB data

InvestorsDoctor
Publish date: Thu, 08 Nov 2018, 10:04 AM
InvestorsDoctor
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8/11/2018

 
*FCPO Jan 19*
 
Previous Close: 2111 -11
 
Please be noted that FCPO active month will change on next Thursday, 15 Nov, traders may choose to trade Feb 18 contract. FCPO hit more than 3 year low on expectation of rising inventories and tracking weakness in related edible oils & crude oil. Related edible oils not much changes this morning, FCPO likely to move in range,
 
Hourly chart formed lower highs & lows, more to bearish, but watch out for potential RSI bullish divergence.
 
 *Classic Support & Resistance* 
Resistance: 2155 2193 
Support: 2088 2046
 
 *Recommend Trading Plan for the day:* 
1. Sell 2104. stop 2112, profit 2096/2088.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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