FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 18/6/2019 - Retest 2040 previous resistance level, close above for more rebound

InvestorsDoctor
Publish date: Tue, 18 Jun 2019, 10:03 AM
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18/6/2019
 
FCPO Sep 19
 
Previous Close: 2034 +16
 
FCPO up slightly in a flat range yesterday as supported by stronger related edible oils. Dalian palm olein & US soyoil remain steady this morning, FCPO may continue to try rebound
 
Hourly chart showed FCPO retest 38.2 Fibo retracement level around 2040 level, close above wil test 50-61.8 Fibo level which is around 2050-2070
 
Classic Support & Resistance 
Resistance:  2062 2085
Support:   1993 1974
 
 Recommend Trading Plan for the day: 
1. Buy 2040, stop 2032, profit 2048/2056/2064
 
 FCPO Margin Requirement 
Overnight  MYR 4000
 
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