FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 12/7/2019 - Bearish fundamental data likely to limit upside of FCPO

InvestorsDoctor
Publish date: Fri, 12 Jul 2019, 11:33 AM
InvestorsDoctor
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12/7/2019
 
*FCPO Sep 19*
 
Previous Close: 1941 +4
 
Please be noted that FCPO will change active month by next Monday (15/7), traders may choose to trade Oct 19 contract. Bearish CPO export & production data kept FCPO prices in low range, while related edible oils remain weak this morning, FCPO likely continue to move in range.
 
Hourly chart showed FCPO in a sideway to lower trend, below 1920 to trigger more sell signal, but be cautious of potential RSI bullish divergence.
 
*Classic Support & Resistance* 
Resistance:  1969 2012
Support:   1900 1880
 
 *Recommend Trading Plan for the day:* 
1. Trade in range 1910-1960
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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