FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/6/2019 - Watch out for CPO production & export data,above 2060 for more upside

InvestorsDoctor
Publish date: Thu, 20 Jun 2019, 10:35 AM
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20/6/2019
 
*FCPO Sep 19*
 
Previous Close: 2046 +24
 
FCPO jumped more than 1% yesterday as tracking strength in related edible oils. Dalian palm olein & US soyoil continue to be positive this morning, likely to support FCPO prices. Watch out for June 1-20 CPO production & export data.
 
Hourly chart pointed FCPO in a sideway, move around 38.2-61.8 Fibo retracement level of swing 2115-1964, close above 2060 to trigger more bullish signal.
 
*Classic Support & Resistance* 
Resistance:  2075 2115
Support:   2002 1960
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 2060
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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