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FCPO Updates

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

 

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 12/11/2019 - Boosted by bullish CPO data, above 2660 for more upside

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12/11/2019
 
*FCPO Jan 20*
 
Previous Close: 2627 +64
 
FCPO hit near 2 year high at above 2600 level yesterday, as boosted by better than expected CPO data. Dalian palm olein continue to jump more than 1% this morning, expect FCPO to hold its bullish momentum.
 
Hourly chart formed higher highs & lows, more to bullish, close above 2660 for more upside, but be cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance:  2700 2800
Support:   2500 2450
 
 *Recommend Trading Plan for the day:* 
1. If price close downside gap 1st, buy 2600, stop 2592, profit 2608/2616/2624
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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