FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 1/3/2019 - Continue technical correction but watch out for potential oversold rebound

InvestorsDoctor
Publish date: Fri, 01 Mar 2019, 10:05 AM
InvestorsDoctor
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1/3/2019

*FCPO May 19*

Previous Close: 2121 -11

FCPO recorded a 5th straight day of losses yesterday as pressured by export and production concerns. Dalian palm olein showed some rebound this morning, FCPO may also test to rebound 1st.

Hourly chart formed more lower highs & lows, signaled more potential correction ahead, but be cautious as the price now in RSI oversold.

*Classic Support & Resistance*
Resistance: 2189 2278
Support: 2093 2028 2000

*Recommend Trading Plan for the day:*
1. Sell 2114, stop 2122, profit 2106/2098//2090.

*FCPO Margin Requirement*
Overnight MYR 4000
Spread MYR 1200

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

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