FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 13/5/2019 - Related edible oils still weak, FCPO upside likely limited

InvestorsDoctor
Publish date: Mon, 13 May 2019, 09:26 AM
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Following Message


13/5/2019
 
*FCPO Jul 19*
 
Previous Close: 1983 -22
 
Please be noted that FCPO will change active month on this Wed (15/5), traders may choose to trade Aug 19. FCPO fell more than 1% again on last Friday, which is also its 5 month low on US-China trade tension. Related edible oils drop lower this morning, FCPO may test support 1st.
 
Hourly chart showed FCPO closed downside gap, below 1970 to trigger more downside.
 
*Classic Support & Resistance* 
Resistance:  2019 2058
Support:   1940 1900
 
 *Recommend Trading Plan for the day:* 
1. Sell 1969, stop 1978, profit 1960/1951/1942
2. If price rebound 1st, look for sell signal above 2000.
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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