FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 2/1/2019 - India cut import tax, expect to support FCPO price

InvestorsDoctor
Publish date: Wed, 02 Jan 2019, 10:41 AM
InvestorsDoctor
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2/1/2019

FCPO Mar 19

Previous Close: 2121 +0

FCPO closed in flat before holiday, but news of India to cut import tax lifted Dalian palm olein price this morning, FCPO may test to rebound 1st.

Hourly chart showed FCPO hold above Fibo retracement 61.8 level of swing 1940-2200 with a tight movement.

Classic Support & Resistance
Resistance: 2156 2200
Support: 2093 2028

Recommend Trading Plan for the day:
1. If expect FCPO to track gains in Dalian palm olein, Buy 2125, stop 2115, profit 2135/2145.

FCPO Margin Requirement
Overnight MYR 4500
Spread MYR 1200

Disclaimer: Idea sharing only, trade at your own risk.

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