FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 11/3/2019 - Watch out for CPO data

InvestorsDoctor
Publish date: Mon, 11 Mar 2019, 10:18 AM
InvestorsDoctor
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11/3/2019

 
*FCPO May 19*
 
Previous Close: 2125 -10
 
Please be noted that FCPO will change active month by this Friday 15/3, traders may choose to trade Jun 19. FCPO settled lower on last Friday ahead of key CPO data, watch out for Mar 1-10 export 7 production data & MPOB Feb data. Related edible oils rebound on this morning, FCPO may follow to test rebound 1st.
 
Hourly chart showed FCPO testing previous low around 2115, close below to trigger more downside.
 
*Classic Support & Resistance* 
Resistance: 2178 2217
Support: 2093 2019
 
 *Recommend Trading Plan for the day:* 
1. Sell 2114, stop 2122, profit 2106/2098/2090.
2. Buy 2130 for technical rebound, stop 2122, profit 2138/2146/2154.
 
 *FCPO Margin Requirement* 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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