FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 23/4/2019 - In sideway but likely to test support 1st

InvestorsDoctor
Publish date: Tue, 23 Apr 2019, 09:47 AM
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23/4/2019
 
*FCPO Jul 19*
 
Previous Close: 2172 -18
 
FCPO edged lower yesterday on slowing CPO export growth. Related edible oils are nearly unchanged this morning, FCPO likely to move in range 1st.
 
Hourly chart showed FCPO move in range 38.2-61.8 Fibo retracement level 2139-2235 while technical indicators in neutral, wait for more breakout.
 
*Classic Support & Resistance* 
Resistance:  2235 2278
Support:   2139 2092
 
 *Recommend Trading Plan for the day:* 
1. Sell 2163, stop 2170, profit 2156/2149/2142
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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