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FCPO Updates

Author: InvestorsDoctor   |   Latest post: Tue, 31 Dec 2019, 9:39 AM

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 14/11/2019 - Bullish but be cautious of possible short term correction

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14/11/2019
 
*FCPO Jan 20*
 
Previous Close: 2586 -18
 
FCPO slipped for 2nd day on profit taking. Dalian palm olein fell more than 2%, expect FCPO to gap down and test technical correction.
 
Hourly chart formed higher highs & lows, more to bullish, but be cautious of potential RSI bearish divergence.
 
*Classic Support & Resistance* 
Resistance:  2650 2720
Support:   2500 2440
 
 *Recommend Trading Plan for the day:* 
1. Sell 2576, stop 2584, profit 2568/2560/2552
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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