FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 19/11/2018 - Lower highs & lows, more to bearish on worries of raising inventories
InvestorsDoctor
Publish date: Mon, 19 Nov 2018, 09:29 AM
InvestorsDoctor
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19/11/2018
*FCPO Feb 19*
Previous Close: 1972 -77
FCPO fell more than 3% to close below 2000 on last Friday as weighed down by heavy selling volume on worries of raising inventories. Related edibles oil remain weak this morning, FCPO likely to extend its downtrend.
Hourly chart formed new lows, more to bearish, but watch out for short term technical rebound as RSI in oversold.
*Classic Support & Resistance*
Resistance: 2066 2125
Support: 1950 1900
*Recommend Trading Plan for the day:*
1. Sell 1968, stop 1979, profit 1957/1946/1935/1924.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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