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FCPO Updates

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

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 31/12/2019 Bullish but be cautious of overbought

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31/12/2019
 
FCPO Mar 20
 
Previous Close: 3128 +55
  
FCPO edged higher to above 3120 level amid expectation of lower output and higher biofuel usage.
 
Hourly chart formed higher highs & lows,, more to bullish, but be cautious as RSI in overbought.
 
Classic Support & Resistance 
Resistance:  3200 3400
Support:   3020 2890
 
 Recommend Trading Plan for the day: 
1. Buy 3140, stop 3132, profit 3148/3156/3164
2. Sell 3122, stop 3130, profit 3114/3106/3098
 
 FCPO Margin Requirement 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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