FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/4/2019 - In sideway, watch out for FCPO data today

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Publish date: Thu, 25 Apr 2019, 10:28 AM
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25/4/2019
 
*FCPO Jul 19*
 
Previous Close: 2170 +0
 
FCPO sustained above 2140 support and closed in flat yesterday ahead of Apr 1-25 CPO data. Watch out for CPO export data today. Dalian palm olein was higher this morning, FCPO may continue to test rebound.
 
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. Buy 2176, stop 2168, profit 2184/2192/2200
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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