FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 30/5/2019 -Close above 2115 to trigger more upside

InvestorsDoctor
Publish date: Thu, 30 May 2019, 09:51 AM
InvestorsDoctor
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30/5/2019
 
*FCPO Aug 19*
 
Previous Close: 2105 +39
 
FCPO rose over 2%, marked its 2nd consecutive strong bull session yesterday as tracking gains in related edible oils. Related edible oils remain strong this morning, FCPO may continue to test rebound.
 
Daily chart showed FCPo to retest 2115 previous high, close above to trigger more upside to 2140-2190 Fibo retracement level.
 
*Classic Support & Resistance* 
Resistance:  2235 2344
Support:   1960 1900
 
 *Recommend Trading Plan for the day:* 
1. Buy 2116, stop 2108, profit 2124/2132/2140
2. Watch out for close downside gap signal below 2080
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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