FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 29/8/2019 - Bullish with potential short term correction

InvestorsDoctor
Publish date: Thu, 29 Aug 2019, 10:10 AM
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29/8/2019
 
*FCPO Nov 19*
 
Previous Close: 2253 +14
 
FCPO settled slightly higher yesterday as followed rebound in related edible oils. 
 
Hourly chart testing technical correction from RSI overbought, close below 2220 for more downside.
 
*Classic Support & Resistance* 
Resistance:  2310 2370
Support:   2220 2150
 
 *Recommend Trading Plan for the day:* 
1. Buy 2265, stop 2257, profit 2273/2281/2289
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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