FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 11/2/2019 - Watch out for FCPO data today

InvestorsDoctor
Publish date: Mon, 11 Feb 2019, 10:17 AM
InvestorsDoctor
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11/2/2019

 
*FCPO Apr 19*
 
Previous Close: 2290 -28
 
Please be noted that FCPO will change active month on this Friday 15/2, traders may choose to trade May 19 contract. FCPo unable to hold above 2300 level after a technical correction from gap up, watch out for MPOB Jan data & Feb 1-10 export & production data. Related edible oils remain weak this morning, FCPO may test support 1st.
 
Hourly chart showed FCPO decline after a RSI bearish divergence, close below 2277 to trigger a double top bearish signal, may test 2200 level.
 
*Classic Support & Resistance* 
Resistance: 2312 2344
Support: 2244 2208
 
 *Recommend Trading Plan for the day:* 
1. Look for sell signal below 2277.
2. Look for buy signal above 2312. 
 
 *FCPO Margin Requirement* 
Overnight MYR 5000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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