FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 8/8/2019 - Bullish but watch out as RSI in overbought

InvestorsDoctor
Publish date: Thu, 08 Aug 2019, 09:59 AM
InvestorsDoctor
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8/8/2019
 
*FCPO Oct 19*
 
Previous Close: 2104 +2
 
FCPO was unchanged yesterday 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:  2180 2235
Support:   2020 1960
 
 *Recommend Trading Plan for the day:* 
1. Buy 2116, stop 2108, profit 2124/2132/2140
2. Look for close downside gap signal below 2078
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
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