FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/8/2019 - Bullish with potential short term correction

InvestorsDoctor
Publish date: Tue, 27 Aug 2019, 09:44 AM
InvestorsDoctor
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27/8/2019
 
*FCPO Nov 19*
 
Previous Close: 2269 +7
 
FCPO retreated from high above 2300 level and closed with only small gains after China restart trade talk with US. 
 
Hourly chart testing technical correction from RSI overbought, close below 2230 for more downside.
 
*Classic Support & Resistance* 
Resistance:  2310 2400
Support:   2240 2150
 
 *Recommend Trading Plan for the day:* 
1. Sell 2265 for correction, stop 2273, profit 2257/2249/2241
2. Look for buy signal above 2300
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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