FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 8/7/2019 - Sideway to lower, close below 1940 to trigger more downside

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Publish date: Mon, 08 Jul 2019, 10:44 AM
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8/7/2019
 
*FCPO Sep 19*
 
Previous Close: 1960 +10
 
FCPO reversed earlier losses from below 1940 to 1960 on relief that India kept import tariff unchanged. Related edible oils are slightly higher this morning, FCPO may move in range.
 
Hourly chart showed FCPO testing rebound from RSI bullish divergence, close above 1987 for more upside.
 
*Classic Support & Resistance* 
Resistance:  1987 2012
Support:   1930 1900
 
 *Recommend Trading Plan for the day:* 
1. Trade in range 1930-1990
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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