FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/2/2019 - A sharp fall to trigger another technical correction

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Publish date: Wed, 20 Feb 2019, 10:02 AM
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20/2/2019

 
*FCPO May 19*
 
Previous Close: 2260 -26
 
FCPO reversed earlier gians to fall over 1% during evening session yesterday ahead of Feb 1-20 CPO data. Watch out for CPO export data today. Related edible oils down on this morning, FCPO likely to test support 1st. 
 
Hourly chart showed FCPO down to test 1 month low, may trigger another technical correction.
 
*Classic Support & Resistance* 
Resistance: 2311 2331
Support: 2235 2195
 
 *Recommend Trading Plan for the day:* 
1. Sell 2255, stop 2264, profit 2246/2237.
 
 *FCPO Margin Requirement* 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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