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FCPO Updates

Author: InvestorsDoctor   |   Latest post: Wed, 11 Dec 2019, 9:56 AM

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 8/11/2019 - More to bullish with possible short term correction

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8/11/2019
 
*FCPO Jan 20*
 
Previous Close: 2528 -26
 
FCPO closed lower yesterday on profit taking, while Dalian palm olein fell more than 1% this morning, may limit upside of FCPO.
 
Hourly chart formed higher highs & lows, more to bullish, close above 2600 level for more upside,  but be cautious of potential RSI bearish divergence.
 
*Classic Support & Resistance* 
Resistance:  2600 2700
Support:   2440 2380
 
 *Recommend Trading Plan for the day:* 
1. Sell 2525, stop 2533, profit 2517/2509/2501
2. Buy 2540, stop 2532, profit 2548/2556/2564
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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