FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/8/2019 - Testing technical correction, watch out for fibo level

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Publish date: Tue, 20 Aug 2019, 10:09 AM
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20/8/2019
 
*FCPO Nov 19*
 
Previous Close: 2156 -36
 
FCPO extended its losses yesterday as tracking weaker related edible oils. Watch out for Aug 1-20 CPO export & production data.
 
Hourly chart formed technical correction signal, close below 2150 to trigger more downside.
 
*Classic Support & Resistance* 
Resistance:  2200 2240
Support:   2100 2060
 
 *Recommend Trading Plan for the day:* 
1. Sell 2151, stop 2159, profit 2143/2135/2127
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
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