21/6/2019
*FCPO Sep 19*
Previous Close: 2023 -23
FCPO saw some profit taking yesterday as pressured by weaker related edible oils. Dalian palm olein is lower this morning, may limit upside of FCPO. Watch out for June 1-20 CPO production 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: 2059 2115
Support: 1960 1920
*Recommend Trading Plan for the day:*
1. Trade in range 2000-2060
*FCPO Margin Requirement*
Overnight MYR 4000
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