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FCPO Updates

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

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 6/12/2019 Break higher high, above 2820 for more upside

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6/12/2019
 
*FCPO Feb 20*
 
Previous Close: 2815 +42
  
FCPO hit its highest since Nov 2017 on bullish outlook and supported by stronger related edible oils. Dalian palm olein retreated from high this morning, FCPO may move in range 1st, and wait for more breakout.
 
Hourly chart formed higher highs & lows, more to bullish, but be cautious of potential RSI bearish divergence. Close above 2820 to trigger more upside.
 
*Classic Support & Resistance* 
Resistance:  2900 2950
Support:   2740 2680
 
 *Recommend Trading Plan for the day:* 
1. Buy 2820, stop 2812, profit 2828/2836/2844
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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