FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/5/2019 - More to bearish, close below 2090 for more downside
InvestorsDoctor
Publish date: Fri, 03 May 2019, 10:25 AM
InvestorsDoctor
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3/5/2019
*FCPO Jul 19*
Previous Close: 2032 -63
FCPO fell nearly 4% yesterday to almost 5 month low as weighed down by weaker US soyoil price and India raised import duty, offset export tax exemption sentiment.
4H chart showed a more to bearish trend, will trigger more downside if close below 2016, but be cautious as RSI in oversold, may trigger some technical rebound.
*Classic Support & Resistance*
Resistance: 2090 2137
Support: 1979 1913
*Recommend Trading Plan for the day:*
1. Sell 2015, stop 2023, profit 2007/1999/1991
2. Buy 2037 for technical rebound, stop 2029, profit 2045/2053/2061
*FCPO Margin Requirement*
Overnight MYR 4000
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