FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/1/2019 - Higher highs * lows, bullish but be cautious of RSI overbought

InvestorsDoctor
Publish date: Fri, 25 Jan 2019, 10:00 AM
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25/1/2019

 
*FCPO Apr 19*
 
Previous Close: 2297 +14
 
FCPO hit its highest in nearly 5 months to test above 2300 level after MPOA reported lower CPO production. Related edible oils steadied on this morning, expect FCPO continue to test rebound. Watch out for Jan 1-25 CPO production & export data.
 
Hourly chart formed higher highs & lows, more to bullish but trade with cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance: 2348 2412
Support: 2244 2208
 
 *Recommend Trading Plan for the day:* 
1. Buy 2299, stop 2291, profit 2307/2315/2323.
 
 *FCPO Margin Requirement* 
Overnight MYR 4500
Spread MYR 1200
 
Disclaimer: Idea sharing only, trade at your own risk.
 
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