FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 9/8/2019 - Bullish but watch out as RSI in overbought

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Publish date: Fri, 09 Aug 2019, 09:54 AM
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9/8/2019
 
FCPO Oct 19
 
Previous Close: 2135 +31
 
FCPO hit more than 3 month high yesterday as tracking strength in related edible oils. Dalian palm olein continue to rebound this morning, FCPO likely to test resistance 1st.
 
Hourly chart remained in rebound stage but RSI in overbought, be cautious of potential technical correction in short term.
 
Classic Support & Resistance 
Resistance:  2180 2240
Support:   2080 2050
 
 Recommend Trading Plan for the day: 
1. Buy 2145, stop 2137, profit 2153/2161/2169
 
 FCPO Margin Requirement 
Overnight  MYR 3000
 
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