FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 16/7/2019 - Testing rebound on recovering export

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Publish date: Tue, 16 Jul 2019, 10:12 AM
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16/7/2019
 
FCPO Oct 19
 
Previous Close: 1988 +15
 
FCPO settled slightly higher yesterday on the back of recovering Jul 1-15 CPO export, yet overall in a very tight range. Watch out for Jul 1-15 Sppoma production data.
 
Hourly chart showed FCPO in a sideway to lower trend, but be cautious of potential RSI bullish divergence.
 
Classic Support & Resistance 
Resistance:  2000 2030
Support:   1970 1940
 
 Recommend Trading Plan for the day: 
1. Trade in range 1940-2000
 
 FCPO Margin Requirement 
Overnight  MYR 4000
 
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