FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 4/1/2019 - Retreat from high and enter retracement

InvestorsDoctor
Publish date: Fri, 04 Jan 2019, 10:00 AM
InvestorsDoctor
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4/1/2019

 
*FCPO Mar 19*
 
Previous Close: 2151 -15
 
FCPO fell from 2 week high for profit taking. Market may stay cautious ahead of MPOB data. Related edible oils hold their gains this morning, FCPO likely to trade in range 1st.
 
Hourly chart showed FCPO move in range 2090-2200. Fibo retracement of swing 2093-2181 suggested that close below 2127 (61.8%) to trigger more downside.
 
*Classic Support & Resistance* 
Resistance: 2200 2248
Support: 2093 2028
 
 *Recommend Trading Plan for the day:* 
1. Look for more breakout signal.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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