FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/3/2019 - More to bearish but watch out for RSI bullish divergence

InvestorsDoctor
Publish date: Mon, 18 Mar 2019, 10:05 AM
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18/3/2019

 
*FCPO June 19*
 
Previous Close: 2112 +7
 
FCPO was nearly unchanged on last Friday as its upside was limited by weakening CPO export. Related edible oils testing for a rebound this morning, FCPO likely to move in range 1st.
 
Hourly chart showed a more to bearish trend as there is no higher highs & lows, but watch out for potential RSI bullish divergence.
 
*Classic Support & Resistance* 
Resistance: 2168 2218
Support: 2069 2015
 
 *Recommend Trading Plan for the day:* 
1. Look for technical rebound buy signal above 2127.
2. Trade in range 2080-2130.
 
 *FCPO Margin Requirement* 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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