FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 11/12/2018 - Strong rebound yesterday but still in range

InvestorsDoctor
Publish date: Tue, 11 Dec 2018, 09:54 AM
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11/12/2018

 
*FCPO Feb 19*
 
Previous Close: 2042 +44
 
Please be noted that FCPO will change active month by end of this week, traders may choose to trade Mar 19 contract. FCPO rose more than 2% from low after MPOB data as falling production may signal a production peak, but still overshadowed by high inventory level. Related edible oils down on this morning after a declining crude oil price, FCPO may test for technical correction 1st.
 
Hourly chart showed FCPO move in range 1940-2078, wait for breakout. 
 
 *Classic Support & Resistance* 
Resistance: 2078 2155
Support: 1979 1940
 
 *Recommend Trading Plan for the day:* 
1. Buy 2050, stop 2038, profit 2062/2074.
2. Sell 2038, stop 2050, profit 2026/2014.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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