10/12/2018
*FCPO Feb 19*
Previous Close: 1998 -7
Please be noted that FCPO will change active month by end of this week, traders may choose to trade Mar 19 contract. FCPO closed below 2000, remain at more than 3 year low ahead of MPOB data on worries of raising inventories.
Watch out for Dec 1-10 production & export data and MPOB data for Nov 18. Related edible oils showed some rebound on this morning after a rebound in crude oil, FCPO may test to hold above 2000.
Hourly chart showed FCPO move in range, wait for breakout, close below Fibo 38.2 level around 1993 to trigger more downside.
*Classic Support & Resistance*
Resistance: 2037 2078
Support: 1940 1900
*Recommend Trading Plan for the day:*
1. Trade in range 1980-2040.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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