FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 1/10/2019 - Weighed down by weaker related edible oils & CPO export

InvestorsDoctor
Publish date: Tue, 01 Oct 2019, 10:16 AM
InvestorsDoctor
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1/10/2019
 
*FCPO Dec 19*
 
Previous Close: 2135 -14
 
FCPO closed slightly lower yesterday as tracking weaker related edible oils and weighed down by slowing CPO export. Watch out for Sep 1-30 Sppoma data.
 
Hourly chart formed lower highs & lows, likely to go for further correction, close below 2120 for more downside.
 
*Classic Support & Resistance* 
Resistance:  2170 2230
Support:   2080 2050
 
 *Recommend Trading Plan for the day:* 
1. Buy 2139 for rebound, stop 2131, profit 2147/2155
2. Sell 2118, stop 2126, profit 2110/2102
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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