FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 21/12/2018 - 2200 become resistance level

InvestorsDoctor
Publish date: Fri, 21 Dec 2018, 10:03 AM
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21/12/2018

 
*FCPO Mar 19*
 
Previous Close: 2183 -15
 
FCPO retreated from high on profit taking and tracking weaker related edible oils as pressured by sinking crude oil price. Watch out for Dec 1-20 CPO production data.
 
Hourly chart failed to sustain above 2200, be cautious of potential retracement from 2200 level.
 
*Classic Support & Resistance* 
Resistance: 2228 2291
Support: 2139 2069
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 2200.
2. Look for technical correction signal below 2161.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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