FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 4/3/2019 - Strong rebound from RSI oversold, hold above 2200 to trigger more upside

InvestorsDoctor
Publish date: Mon, 04 Mar 2019, 10:01 AM
InvestorsDoctor
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4/3/2019

*FCPO May 19*

Previous Close: 2189 +68

FCPO gained more than 3% last Friday, snapping 5 previous losing sessions as tracking strength in related edible oils. Dalian palm olein up mroe than 2% this morning, FCPO likely to gap up and retest previous high.

Daily chart formed a 1st long white candle, which is also a strong rebound from RSI oversold in hourly chart, close above 2200 today to trigger more upside.

*Classic Support & Resistance*
Resistance: 2232 2278
Support: 2151 2115

*Recommend Trading Plan for the day:*
1. Buy 2200 for technical rebound, stop 2190, profit 2210/2220/2230.

*FCPO Margin Requirement*
Overnight MYR 4000
Spread MYR 1200

Disclaimer: Idea sharing only, trade at your own risk.

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