FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 1/7/2019 - Break down short term support, more to bearish

InvestorsDoctor
Publish date: Mon, 01 Jul 2019, 09:32 AM
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1/7/2019
 
*FCPO Sep 19*
 
Previous Close: 1951 -12
 
FCPO extended its losses on last Friday as pressured by more to bearish outlook. Dalian palm olein remain weak this morning, may limit upside of FCPO.
 
Hourly chart showed FCPO break down from short term support with lower lows, more to bearish, but watch out for potential RSI bullish divergence. 
 
*Classic Support & Resistance* 
Resistance:  1987 2012
Support:   1920 1860
 
 *Recommend Trading Plan for the day:* 
1. Sell 1945, stop 1953, profit 1937/1929/1921
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
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