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FCPO Updates

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

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 15/11/2019 - Sideway to higher, 2600 or 2700 wait for breakout

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15/11/2019

 
*FCPO Feb 20*
 
Previous Close: 2633 +14
 
FCPO rebounds after 2 days of losses, back to above 2600 level, while Dalian palm olein down slightly this morning, FCPO may move in range. Watch out for Nov 1-15 CPO export data.
 
Hourly chart entered sideway to higher trend, 2685 or 2590 wait for breakout.
 
*Classic Support & Resistance* 
Resistance: 2700 2750
Support: 2590 2520
 
 *Recommend Trading Plan for the day:* 
1. Sell 2627, stop 2635, profit 2619/2611/2603
2. Look for buy signal above 2685
 
 *FCPO Margin Requirement* 
Overnight MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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