Highlights

FCPO Updates

Author: InvestorsDoctor   |   Latest post: Fri, 15 Nov 2019, 9:55 AM

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 11/10/2019 - Testing rebound but upside likely limited by more to bearish outlook

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11/10/2019
 
*FCPO Dec 19*
 
Previous Close: 2201 +5
 
FCPO closed above 2200 yesterday after release of MPOB data. However, bearish CPO export and inventory outlook likely to limit its upside.
 
Hourly chart formed higher highs & lows, more to bullish, may continue to test rebound,close above 2220 level to trigger more upside.
 
*Classic Support & Resistance* 
Resistance:  2230 2270
Support:   2170 2120
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 2216
2. Sell 2200, stop 2208, profit 2192/2184/2176
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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