FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 5/8/2019 - Bullish and watch out for RSI bearish divergence

InvestorsDoctor
Publish date: Mon, 05 Aug 2019, 10:18 AM
InvestorsDoctor
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5/8/2019
 
*FCPO Oct 19*
 
Previous Close: 2062 -2
 
FCPO was mostly unchanged on last Friday while Dalian palm olein is higher this morning, FCPO may continue to test rebound. 
 
Hourly chart remained in rebound stage but RSI in overbought, be cautious of potential technical correction in short term.
 
*Classic Support & Resistance* 
Resistance:  2115 2180
Support:   2020 1960
 
 *Recommend Trading Plan for the day:* 
1. Buy 2076, stop 2068, profit 2084/2092/2100
2. Sell 2048 for technical correction, stop 2056, profit 2040/2032/2024
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
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