FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/12/2018 - Enter technical correction, watch out Fibo retracement level
InvestorsDoctor
Publish date: Thu, 27 Dec 2018, 10:27 AM
InvestorsDoctor
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27/12/2018
FCPO Mar 19
Previous Close: 2094 -21
FCPO settled lower at below 2100 yesterday as tracking losses in related edible oils & falling crude oil prices. Dalian palm olein & US soyoil showed rebound today after a strong surge in crude oil, likely to support FCPO.
Hourly chart entered Fibo retracement 38.2-61.8 level of swing 1940-2200, close below 2039 to trigger more downside.
Classic Support & Resistance
Resistance: 2156 2200
Support: 2028 2001
Recommend Trading Plan for the day:
1. Sell 2092, stop 2100, profit 2084/2076/2068.
2. Buy 2100 if expect for a technical rebound, stop 2092, profit 2108/2116.
3. Look for further technical rebound buy signal above 2120.
FCPO Margin Requirement
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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