FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 15/1/2019 - Remain in trading range but turn to slightly bearish, watch out for data day

InvestorsDoctor
Publish date: Tue, 15 Jan 2019, 09:53 AM
InvestorsDoctor
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15/1/2019

 
*FCPO Apr 19*
 
Previous Close: 2181 -30
 
FCPO hit nearly 2 week low as pressured by weakening related edible oils & crude oil prices, while market stay cautious ahead of Jan 1-15 CPO production & export data, watch out for the data today. 
 
Hourly chart showed FCPO move in range 2142-2237, wait for breakout, but trend turned slightly bearish as the price break short term support and technical indicators crossing down.
 
*Classic Support & Resistance* 
Resistance: 2237 2301
Support: 2142 2069
 
 *Recommend Trading Plan for the day:* 
1. Sell 2179, stop 2189, profit 2169/2159/2149.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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