FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 12/3/2019 - More to bearish but watch out for RSI bullish divergence

InvestorsDoctor
Publish date: Tue, 12 Mar 2019, 09:55 AM
InvestorsDoctor
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12/3/2019

 
*FCPO May 19*
 
Previous Close: 2119 -6
 
Please be noted that FCPO will change active month by this Friday 15/3, traders may choose to trade Jun 19. FCPO down slightly lower yesterday as improving Mar 1-10 CPO export offset MPOB bearish data. Related edible oils move in flat range this morning, FCPO may also continue to move in range.
 
Hourly chart showed FCPO hit its lowest since end of Dec 18, more to bearish, but watch out for potential RSI bullish divergence.
 
*Classic Support & Resistance* 
Resistance: 2178 2217
Support: 2093 2019
 
 *Recommend Trading Plan for the day:* 
1. Sell 2108, stop 2116, profit 2100/2092/2084.
2. Buy 2125 for technical rebound, stop 2117, profit 2133/2141/2149.
 
 *FCPO Margin Requirement* 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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