FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 13/8/2019 - Bullish but watch out as RSI in overbought

InvestorsDoctor
Publish date: Tue, 13 Aug 2019, 10:22 AM
InvestorsDoctor
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13/8/2019
 
*FCPO Oct 19*
 
Previous Close: 2179 +44
 
FCPO marked its highest since Apr 2019 on optimism of CPO outlook. Watch out for MPOB Jul 19 and Sppoma Aug 1-10 data. Dalian palm olein remain in rebound stage, FCPO likely to test resistance level.
 
4H chart formed higher highs & lows, more to bullish, but be cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance:  2240 2310
Support:   2100 2050
 
 *Recommend Trading Plan for the day:* 
1. Buy 2186, stop 2178, profit 2194/2202/2210
2. Sell 2166 for correction, stop 2174, profit 2158/2150/2142
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
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