FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 10/5/2019 - Enter range, watch out for MPOB, export & production data

InvestorsDoctor
Publish date: Fri, 10 May 2019, 10:10 AM
InvestorsDoctor
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Following Message


10/5/2019
 
*FCPO Jul 19*
 
Previous Close: 2005 -32
 
Please be noted that FCPO will change active month on next Wed (15/5), traders may choose to trade Aug 19. FCPO fell more than 1% yesterday as weighed down by related edible oils on worries of US-China trade relation. Dalian palm olein & US soyoil prices still at low, may limit upside of FCPO. Watch out for MPOB Apr data and May 1-10 export & production data.
 
Hourly chart showed FCPO to move in range, below 2000 likely to test close downside, overall trend more to bearish.
 
*Classic Support & Resistance* 
Resistance:  2058 2126
Support:   1970 1940
 
 *Recommend Trading Plan for the day:* 
1. Sell 2000, stop 2008, profit 1992/1984/1976
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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