FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/6/2019 - Sideway to lower, below 1960 for mroe downside

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Publish date: Wed, 26 Jun 2019, 10:14 AM
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26/6/2019
 
*FCPO Sep 19*
 
Previous Close: 1981 -17
 
FCPO marked 4 days losses in a row yesterday as weighed down by weaker related edible oils & export data. Watch out for June 1-25 CPO production data. Related edible oils remain lower this morning, likely limit upside of FCPO.
 
Hourly chart showed FCPO in a sideway to lower trend, close below 1960 to trigger more downside.
 
*Classic Support & Resistance* 
Resistance:  2012 2059
Support:   1960 1900
 
 *Recommend Trading Plan for the day:* 
1. If FCPO rebound 1st, look for sell signal at 2000 or above
2. Look for sell signal below 1960
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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