FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/6/2019 - Weighed down by weaker related edible oils

InvestorsDoctor
Publish date: Mon, 03 Jun 2019, 09:53 AM
InvestorsDoctor
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3/6/2019
 
*FCPO Aug 19*
 
Previous Close: 2069 -15
 
FCPO declined slightly on last Friday as weighed down by weak crude oil & US soyoil price. Related edible oils are lower this morning, FCPO may gap down and test support.
 
Hourly chart showed a retracement after FCPO price unable to sustain above 2115 previous high. 
 
*Classic Support & Resistance* 
Resistance:  2115 2179
Support:   2020 1960
 
 *Recommend Trading Plan for the day:* 
1. Sell 2064, stop 2072, profit 2056/2048/2040
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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