FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 9/11/2018 - Production & export data more bearish, continue drag down CPO price
InvestorsDoctor
Publish date: Fri, 09 Nov 2018, 09:52 AM
InvestorsDoctor
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9/11/2018
*FCPO Jan 19*
Previous Close: 2085 -26
Please be noted that FCPO active month will change on next Thursday, 15 Nov, traders may choose to trade Feb 18 contract. FCPO settled below 2100 yesterday as tracking weakness in crude oil & related edible oils and as pressured by worries of raising inventories.
Hourly chart formed lower highs & lows, more to bearish, but watch out for potential RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 2155 2193
Support: 2046 2000
*Recommend Trading Plan for the day:*
1. Sell 2079, stop 2089, profit 2069/2059.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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