FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/7/2019 - Bullish and watch out for Jul 1-25 CPO data

InvestorsDoctor
Publish date: Thu, 25 Jul 2019, 10:10 AM
InvestorsDoctor
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25/7/2019
 
*FCPO Oct 19*
 
Previous Close: 2029 +25
 
FCPO extended its gains to more than 1 high yesterday on support of stronger related edible oils. Dalian palm olein continue to rebound this morning, FCPO may test resistance level 1st. Watch out for Jul 1-25 CPO export data.
 
Hourly chart showed FCPO test rebound from RSI bullish divergence with double bottom breakout from 1960 support level, be cautious as price approaching overbought zone.
 
*Classic Support & Resistance* 
Resistance:  2060 2120
Support:   1960 1910
 
 *Recommend Trading Plan for the day:* 
1. Buy 2033, stop 2025, profit 2041/2049/2057
2. Sell 2021 for technical correction, stop 2029, profit 2013/2005
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
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