FCPO Updates

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


Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/12/2019 Close above 3000, sustain above this level for more upside

Author:   |    Publish date:

*FCPO Mar 20*
Previous Close: 3005 +82
FCPO closed above 3000 level for the 1st time since Feb 2017 on slowing production outlook. Dalian up more than 3% this morning, likely to limit downside of FCPO.
Hourly chart formed a strong breakout from sideway, more to bullish, but be cautious as RSI in overbought.
*Classic Support & Resistance* 
Resistance:  3050 3080
Support:   2960 2930
 *Recommend Trading Plan for the day:* 
1. Buy 3009, stop 3001, profit 3017/3025/3033
 *FCPO Margin Requirement* 
Overnight  MYR 4000
Disclaimer: For idea sharing only, trade at your own risk
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