FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 9/1/2019 - Retest 2200 level, wait for confirmation

InvestorsDoctor
Publish date: Wed, 09 Jan 2019, 09:41 AM
InvestorsDoctor
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9/1/2019

 
*FCPO Mar 19*
 
Previous Close: 2178 +18
 
Please be noted that FCPo will change active month on next Tuesday (15/1), traders may choose to trade Apr 18 contract. FCPO retest 2200 level yesterday but yet to break. Related edible oils up slightly this morning on optimism of trade war talk, may support FCPO price.
 
Hourly chart showed FCPO move in range 2090-2200, close above 2200 to trigger more upside.
 
*Classic Support & Resistance* 
Resistance: 2200 2265
Support: 2144 2093
 
 *Recommend Trading Plan for the day:* 
1. Trade in range 2140-2200, wait for breakout.
2. Look for buy signal above 2200.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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