FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 28/8/2019 - Bullish with potential short term correction

InvestorsDoctor
Publish date: Wed, 28 Aug 2019, 09:46 AM
InvestorsDoctor
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28/8/2019
 
*FCPO Nov 19*
 
Previous Close: 2239 -30
 
FCPO extended its losses yesterday as tracking weaker related edible oils. Dalian plam olein still drop this morning, may limit upside of FCPO
 
Hourly chart testing technical correction from RSI overbought, close below 2220 for more downside.
 
*Classic Support & Resistance* 
Resistance:  2310 2400
Support:   2150 2080
 
 *Recommend Trading Plan for the day:* 
1. Sell 2227 for correction, stop 2235, profit 2219/2211/2203
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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