FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 22/2/2019 - Technical rebound from Fibo level

InvestorsDoctor
Publish date: Fri, 22 Feb 2019, 10:13 AM
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22/2/2019

 
*FCPO May 19*
 
Previous Close: 2264 +19
 
FCPO recovered from 1 month low on technical rebound. Dalian palm olein & US soyoil rebound slightly this morning, FCPO may continue to test rebound 1st.
 
Hourly chart showed FCPO rebounded from 50% Fibo retracment level of swing 2118-2366, close below 2234 to trigger more downside. 
 
*Classic Support & Resistance* 
Resistance: 2311 2366
Support: 2234 2195 2166
 
 *Recommend Trading Plan for the day:* 
1. Buy 2271 for technical rebound, stop 2263, profit 2279/2287.
 
 *FCPO Margin Requirement* 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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