FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 15/3/2019 - More to bearish but watch out for RSI bullish divergence
InvestorsDoctor
Publish date: Fri, 15 Mar 2019, 10:25 AM
InvestorsDoctor
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15/3/2019
*FCPO June 19*
Previous Close: 2105 -21
FCPO marked a 7 days of losses in a row to more than 3 month low yesterday over concerns of bearish CPO outlook and EU ban against usage of CPO. Watch out for Mar 1-15 export & production data.
Hourly chart formed lower highs & lows, more to bearish, but be cautious of potential RSI bullish divergence.
*Classic Support & Resistance*
Resistance: 2168 2218
Support: 2069 2015
*Recommend Trading Plan for the day:*
1. Sell 2101, stop 2109, profit 2093/2085/2077.
2. Sell 2090, stop 2098, profit 2082/2074/2066.
3. Buy 2116 for technical rebound, stop 2108, profit 2124/2132/2140.
*FCPO Margin Requirement*
Overnight MYR 4000
Spread MYR 1200
Disclaimer: Idea sharing only, trade at your own risk.
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