FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 17/10/2019 - Dalian continue to rebound, likely to boost FCPO prices

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Publish date: Thu, 17 Oct 2019, 09:43 AM
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17/10/2019
 
*FCPO Jan 20*
 
Previous Close: 2252 +38
 
FCPO rose more than 1% yesterday as tracking strength in related edible oils. Dalian palm olein remain positive this morning, FCPO may continue to test rebound.
 
Hourly chart countered previous bearish island pattern with a bullish island reversal, close above 2260 level to trigger more upside.
 
*Classic Support & Resistance* 
Resistance:  2310 2330
Support:   2210 2170
 
 *Recommend Trading Plan for the day:* 
1. Buy 2264, stop 2256, profit 2272/2280/2288
2. Look for close gap signal below 2236
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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