![](/files/my/blog/img/bl3939_cpo190219.png)
19/2/2019
*FCPO May 19*
Previous Close: 2286 +13
FCPO rebounded slightly yesterday as tracking strength in related edible oils. Dalian palm olein up more than 1% this morning, FCPO may gap up and continue to test rebound.
Hourly chart showed FCPO continue to hold above 61.8 Fibo retracement level of swing 2118-2366, close below 2265 to trigger more downside.
*Classic Support & Resistance*
Resistance: 2303 2331 2366
Support: 2265 2235 2195
*Recommend Trading Plan for the day:*
1. Trade in range 2260-2310, wait for breakout.
2. Look for sell signal below 2265.
3. Look for buy signal above 2303.
*FCPO Margin Requirement*
Overnight MYR 4000
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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