FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/2/2019 - Continue technical correction, close below 2200 to trigger more downside
InvestorsDoctor
Publish date: Tue, 26 Feb 2019, 10:18 AM
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26/2/2019
*FCPO May 19*
Previous Close: 2213 -44
FCPO fell to 1 month low yesterday as weighed down by expectations of weaker demand and stronger than expected output levels in coming weeks. Dalian palm olein continue to fall this morning, FCPO may test 2200 support level 1st.
Hourly chart formed more lower highs & lows, signaled more potential correction ahead, but watch out as the price now approaching RSI oversold.
*Classic Support & Resistance*
Resistance: 2278 2312
Support: 2165 2134
*Recommend Trading Plan for the day:*
1. Sell 2211, stop 2220, profit 2202/2193/2184.
*FCPO Margin Requirement*
Overnight MYR 4000
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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