FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 12/11/2018 - Watch out for MPOB & Sppoma data
InvestorsDoctor
Publish date: Mon, 12 Nov 2018, 09:57 AM
InvestorsDoctor
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12/11/2018
*FCPO Jan 19*
Previous Close: 2040 -45
Please be noted that FCPO active month will change on this Thursday, 15 Nov, traders may choose to trade Feb 18 contract. FCPO fell more than 2% on last Friday as tracking weakness in related edible oils and worries about CPO inventories ahead of MPOB data. Watch out for Nov 1-10 Sppoma production & Oct MPOB data. Dalian palm olein drop more than 2% this morning, FCPO likely to gap down.
Hourly chart is more to bearish as more lower highs & lows, but watch out for potential RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 2100 2155
Support: 2000 1950
*Recommend Trading Plan for the day:*
1. Sell 2038, stop 2049, profit 2027/2016.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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