FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 19/8/2019 - Testing technical correction, watch out for fibo level

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Publish date: Mon, 19 Aug 2019, 09:46 AM
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19/8/2019
 
*FCPO Nov 19*
 
Previous Close: 2192 -8
 
FCPO reversed earlier gains to fall at close on last Friday as tracking weaker related edible oils. D
 
Hourly chart formed technical correction signal, close below 2184 to trigger more downside.
 
*Classic Support & Resistance* 
Resistance:  2240 2300
Support:   2150 2100
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal if hold above 2200
2. Sell 2183 for correction, stop 2191, profit 2175/2167/2159
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
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