FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/2/2019 - Continue technical correction, close below 2234 to trigger more downside
InvestorsDoctor
Publish date: Mon, 25 Feb 2019, 09:37 AM
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25/2/2019
*FCPO May 19*
Previous Close: 2257 -7
FCPO reversed early gains and closed in negative on last Friday as tracking weakness in related edible oils. US soyoil gap up this morning but Dalian palm olein no changes, FCPO may move in range 1st. Watch out for Feb 1-25 export & production data and MPOA production assessment.
Hourly chart showed FCPO extended its technical correction from RSI overbought, close below 2234 to trigger more downside.
*Classic Support & Resistance*
Resistance: 2278 2312 2344
Support: 2234 2208 2165
*Recommend Trading Plan for the day:*
1. Look for sell signal below 2234.
*FCPO Margin Requirement*
Overnight MYR 4000
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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