FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/1/2019 - Hit 2 week high, may retest 2200 resistance level

InvestorsDoctor
Publish date: Thu, 03 Jan 2019, 10:10 AM
InvestorsDoctor
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3/1/2019

 
*FCPO Mar 19*
 
Previous Close: 2166 +45
 
FCPO jumped over 2% yesterday as India cut import tax, amid expectations of a fall in production. Related edible oils continue to rebound this morning, likely to support FCPO price.
 
Hourly chart showed FCPO hold above Fibo retracement 61.8 level, may retest previous high of 2200 level.
 
*Classic Support & Resistance* 
Resistance: 2200 2265
Support: 2093 2019
 
 *Recommend Trading Plan for the day:* 
1. Buy 2172, stop 2161, profit 2183/2194.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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