FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 16/1/2019 - In tight range, watch out for Jan 1-15 CPO data

InvestorsDoctor
Publish date: Wed, 16 Jan 2019, 09:42 AM
InvestorsDoctor
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16/1/2019

 
*FCPO Apr 19*
 
Previous Close: 2184 +3
 
FCPO traded in tight range yesterday as not much movement from related edible oils too. Watch out for Jan 1-15 CPO production data. 
 
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 2312
Support: 2142 2078
 
 *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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