FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 17/1/2019 - Continue in tight range, pressure below 2200
InvestorsDoctor
Publish date: Thu, 17 Jan 2019, 09:36 AM
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17/1/2019
*FCPO Apr 19*
Previous Close: 2175 -9
FCPO traded in tight range yesterday as not much movement from related edible oils too. Market wanted for more catalyst.
Hourly chart showed FCPO move in range 2142-2237, wait for breakout, but trend turned slightly bearish as the price break short term support which is around 2 week low and technical indicators still crossing down.
*Classic Support & Resistance*
Resistance: 2237 2312
Support: 2142 2078
*Recommend Trading Plan for the day:*
1. Sell 2171, stop 2178, profit 2164/2157.
2. If price rebound 1st, look for sell signal above 2180.
*FCPO Margin Requirement*
Overnight MYR 4500
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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Be the first to like this. Showing 2 of 2 comments
Hi @WoonDeWai ! We can see FCPO move in between 2142-2237 since Dec 2018, meaning there is no new sentiment to move FCPO price out of this channel. So at the same time, we can continue to watch out FCPO supply & demand data.
2019-01-17 11:18
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WoonDeWai
why did fcpo trade in a tight range?
2019-01-17 09:43