FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 24/4/2019 - In sideway but likely to test support 1st

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Publish date: Wed, 24 Apr 2019, 10:48 AM
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24/4/2019
 
FCPO Jul 19
 
Previous Close: 2170 -2
 
FCPO reversed its losses before closing to close in flat as tracking weakness in related edible oils. Dalian palm olein fell on this morning, FCPO may gap down and test support 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 2167, stop 2175, profit 2159/2151/2143.
2. Buy 2175 for technical rebound, stop 2167, profit 2183/2191/2199
 
 FCPO Margin Requirement 
Overnight  MYR 4000
 
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