FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 15/5/2019 - In range 1960-2060, wait for breakout

InvestorsDoctor
Publish date: Wed, 15 May 2019, 10:01 AM
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15/5/2019
 
*FCPO Jul 19*
 
Previous Close: 2014 +29
 
Please be noted that FCPO will change active month after today, traders may choose to trade Aug 19. FCPO closed higher as tracking strength in related edible oils after market recovered some from trade war tension. Related edible oils continue to go higher this morning, FCPO may test resistance 1st. 
 
Hourly chart showed FCPO testing rebound from low around 1960, close above 2060 to trigger double bottom bullish rebound pattern.
 
*Classic Support & Resistance* 
Resistance:  2058 2138
Support:   1960 1900
 
 *Recommend Trading Plan for the day:* 
1. Buy 2020, stop 2012, profit 2028/2036/2044
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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