FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 5/3/2019 - Unable to sustain above 2200 level, may enter range 2100-2200

InvestorsDoctor
Publish date: Tue, 05 Mar 2019, 10:44 AM
InvestorsDoctor
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5/3/2019

 
*FCPO May 19*
 
Previous Close: 2149 -40
 
FCPO retreat from above 2200 level and closed in red ahead of MPOB data. Related edible oils weakening this morning, FCPO may continue to test support level 1st.
 
Hourly chart showed a pull back from outside upper BB, may test 2100 support level. 
 
*Classic Support & Resistance* 
Resistance: 2217 2278
Support: 2115 2093 2028
 
 *Recommend Trading Plan for the day:* 
1. Sell 2147, stop 2154, profit 2140/2133/2126/2119.
 
 *FCPO Margin Requirement* 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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