FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/11/2018 - Sideway, Watch out Fibo retracement range 2078-2144

InvestorsDoctor
Publish date: Mon, 26 Nov 2018, 09:38 AM
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26/11/2018

 
*FCPO Feb 19*
 
Previous Close: 2044 -13
 
FCPO down slightly on last Friday on technical selling and market await for more supply & demand data. Watch out for Nov 1-25 export & production data. Not much changes on related edible oils despite a sharp fall in crude oil, expect FCPO to trade in range 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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