FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 29/4/2019 - Break down from sideway, more to bearish

InvestorsDoctor
Publish date: Mon, 29 Apr 2019, 10:09 AM
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29/4/2019
 
*FCPO Jul 19*
 
Previous Close: 2119 -38
 
FCPO fell around 2% to nearly 1 month low as weighed down by related edible oils. Dalian palm olein remains weak this morning, FCPO may continue to test support.
 
Hourly chart showed FCPO break down from sideway with lower highs & lows, more to bearish, close below 2090 for more downside.
 
*Classic Support & Resistance* 
Resistance:  2179 2235
Support:   2038 2000
 
 *Recommend Trading Plan for the day:* 
1. Sell 2115, stop 2122, profit 2108/2101/2094
2. Watch out for clsoe gap signal above 2137
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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