FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 14/8/2019 - Bullish but watch out as RSI in overbought

InvestorsDoctor
Publish date: Wed, 14 Aug 2019, 09:53 AM
InvestorsDoctor
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14/8/2019
 
*FCPO Oct 19*
 
Previous Close: 2212 +33
 
FCPO edged higher yesterday on better than expected MPOB data. Related edible oils in correction this morning, FCPO may test support level 1st.
 
4H chart formed higher highs & lows, more to bullish, but be cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance:  2240 2280
Support:   2180 2140
 
 *Recommend Trading Plan for the day:* 
1. Buy 2218, stop 2210, profit 2226/2234/2242
2. Sell 2206 for correction, stop 2214, profit 2198/2190/2182
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
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