FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/5/2019 -Below 2000 to retest 1940 previous low

InvestorsDoctor
Publish date: Mon, 27 May 2019, 09:55 AM
InvestorsDoctor
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27/5/2019
 
*FCPO Aug 19*
 
Previous Close: 2013 -3
 
FCPO closed slightly lower on last Friday as tracking weakness in related edible oils. May 1-25 CPO export more to bullish, watch out for CPO production data. US agricultural market closed for public holiday, while Dalian palm olein rebound this morning, FCPO may test resistance 1st
 
Hourly chart formed a sideway to lower trend, below 2000 level for more downside.
 
*Classic Support & Resistance* 
Resistance:  2040 2115
Support:   1960 1940 1900
 
 *Recommend Trading Plan for the day:* 
1. Buy 2020, stop 2013. profit 2027/2034
2. Look for sell signal below 1990
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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