FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/11/2018 - Back to bearish trend, close below 1949 to trigger more downside

InvestorsDoctor
Publish date: Tue, 27 Nov 2018, 11:09 AM
InvestorsDoctor
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27/11/2018

 
*FCPO Feb 19*
 
Previous Close: 1972 -72
 
FCPO fell sharply again yesterday to retest previous low of 1949 after Indonesia announced measures to increase shipments. Related edbile oils drop on this morning, likely to limit upside of FCPO.
 
Hourly chart back to sideway to lower trend, close below 1949 to confirm, while technical indicators crossing down.
 
 *Classic Support & Resistance* 
Resistance: 2030 2078
Support: 1914 1863 
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 1949.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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