FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/12/2018 - Fail to break previous high, remain in sideway

InvestorsDoctor
Publish date: Tue, 18 Dec 2018, 10:12 AM
InvestorsDoctor
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18/12/2018

 
FCPO Mar 19
 
Previous Close: 2122 -16
 
FCPO retreated from its high yesterday as tracking weakness in related edible oils and weighed down by bearish CPO export data. Related edible oils showed rebound this morning, expect FCPO to move in range.
 
Hourly chart showed FCPO fail to breakout from high, back to range 2015-2148, wait for breakout. 
 
 Classic Support & Resistance 
Resistance: 2148 2190
Support: 2069 2015
 
 Recommend Trading Plan for the day: 
1. Trade in range 2100-2150, wait for breakout.
2. Look for buy signal if price sustain above 2148.
 
 FCPO Margin Requirement 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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