FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/12/2018 - Enter sideway, required to close above 2078 to trigger further rebound signal

InvestorsDoctor
Publish date: Mon, 03 Dec 2018, 09:44 AM
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3/12/2018

 
*FCPO Feb 19*
 
Previous Close: 2040 +13
 
FCPO was little changed on last Friday as market wait for more supply & demand data. However, optimism on US-China summit pushed up related edible oils, FCPO may retest previous high.
 
Hourly chart showed FCPO move in range and testing Fibo level around 2037, next target will be around 2078 previous high, close above 2078 to trigger more rebound.
 
 *Classic Support & Resistance* 
Resistance: 2078 2155
Support: 1998 1940
 
 *Recommend Trading Plan for the day:* 
1. Buy 2047, stop 2034, profit 2060/2073.
2. If price retrace 1st, look for buy signal near 2000, with stop loss below 1998.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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