FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 28/2/2019 - Losses extended but watch out for potential RSI oversold technical rebound

InvestorsDoctor
Publish date: Thu, 28 Feb 2019, 10:08 AM
InvestorsDoctor
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28/2/2019

*FCPO May 19*

Previous Close: 2132 -51

FCPO declined for 4th day on expectations of weaker demand and weaker related edible oils. Dalian palm olein limited its losses this morning, FCPO may trade in range 1st.

Hourly chart formed more lower highs & lows, signaled more potential correction ahead, but watch out as the price now approaching RSI oversold and testing 50% Fibo retracement level of swing 1940-2344.

*Classic Support & Resistance*
Resistance: 2278 2344
Support: 2093 1940

*Recommend Trading Plan for the day:*
1. Sell 2128, stop 2138, profit 2118/2108/2098.

*FCPO Margin Requirement*
Overnight MYR 4000
Spread MYR 1200

Disclaimer: Idea sharing only, trade at your own risk.

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