FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/7/2019 - Rebound from 1940 support level, but upside limited for now

InvestorsDoctor
Publish date: Wed, 03 Jul 2019, 09:56 AM
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3/7/2019
 
*FCPO Sep 19*
 
Previous Close: 1967 +9
 
FCPO pulled back from previous low around 1940 level yesterday, but upside likely limited by weaker related edible oils  and bearish outlook. Dalian palm olein drop at this morning, FCPO may gap down and retest 1940 support level.
 
Hourly chart showed FCPO in a sideway to lower trend, close below 1940 to trigger more downside.
 
*Classic Support & Resistance* 
Resistance:  1987 2012
Support:   1938 1900
 
 *Recommend Trading Plan for the day:* 
1. Sell 1964, stop 1972, profit 1956/1948/1940
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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