FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 29/11/2018 - Rebound from RSI bullish divergence, expect to gap up today

InvestorsDoctor
Publish date: Thu, 29 Nov 2018, 10:23 AM
InvestorsDoctor
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29/11/2018

 
*FCPO Feb 19*
 
Previous Close: 2014 +48
 
FCPO recovered from more than 3 year low yesterday as tracking strength in related edible oils. US soyoil back to above 28 while Dalian palm olein +2% this morning, expect FCPO to gap up and test resistance.
 
Hourly chart formed rebound to test Fibo retracement level, close above 2078 to trigger more upside. 
 
 *Classic Support & Resistance* 
Resistance: 2078 2155
Support: 1980 1940
 
 *Recommend Trading Plan for the day:* 
1. Look for buy signal above 2030.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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