FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 23/11/2018 - Watch out Fibo retracement range 2078-2144
InvestorsDoctor
Publish date: Fri, 23 Nov 2018, 09:43 AM
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23/11/2018
*FCPO Feb 19*
Previous Close: 2057 +51
FCPO triggered a strong rebound yesterday on technical buying and as tracking strength in related edible oils. Dalian palm olein continue to go up this morning, FCPO likely to test yesterday high 1st.
Hourly chart testing a bottom rebound, technical indicators crossing up while BB testing to expanding upside, close above 2078 yesterday high to trigger more upside.
*Classic Support & Resistance*
Resistance: 2078 2155
Support: 1999 1949
*Recommend Trading Plan for the day:*
1. Look for technical rebound buy signal above 2078.
2. If price retrace 1st, buy near 1999 yesterday low, stop 1998, profit aim for risk reward ratio more than 1.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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