FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/3/2019 - Watch out for RSI bullish divergence & Mar 1-20 data

InvestorsDoctor
Publish date: Wed, 20 Mar 2019, 10:14 AM
InvestorsDoctor
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20/3/2019

 
FCPO June 19
 
Previous Close: 2131 +26
 
FCPO marked a strong rebound from below 2100 level yesterday ahead of Mar 1-20 CPO export & production data. Related edible oils also testing rebound this morning, watch out if FCPO manage to sustain above 2100.
 
Hourly chart showed FCPO testing 61.8 Fibo retracement level of swing 2217-2038 which is around 2150, wait for confirmation.
 
Classic Support & Resistance 
Resistance: 2178 2217
Support: 2092 2038
 
 Recommend Trading Plan for the day: 
1. If price retrace 1st, buy 2100 or below, stop 2091, profit 2110/2120/2130.
2. Look for buy signal above 2150.
 
 FCPO Margin Requirement 
Overnight MYR 4000
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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