FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/4/2019 - Sideway and test support level, watch out for breakout

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Publish date: Fri, 26 Apr 2019, 10:16 AM
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26/4/2019

 
FCPO Jul 19
 
Previous Close: 2157 -13
 
FCPO settled slightly lower yesterday as tracking weakness in related edible oils. Dalian palm olein dropped more than 1% this morning, FCPO may gap down and test support.
 
Hourly chart showed FCPO move in range 38.2-61.8 Fibo retracement level 2139-2235, wait for more breakout.
 
Classic Support & Resistance 
Resistance: 2179 2235
Support: 2139 2092
 
 Recommend Trading Plan for the day: 
1. Sell 2155, stop 2162, profit 2148/2141
2. Look for sell signal below 2139
 
 FCPO Margin Requirement 
Overnight MYR 4000
 
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