FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 21/10/2019 - Dalian remain in rebound stage, likely to support FCPO prices

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Publish date: Mon, 21 Oct 2019, 09:52 AM
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21/10/2019
 
*FCPO Jan 20*
 
Previous Close: 2287 +28
 
FCPO closed higher on last Friday as tracking gains in related edible oils. Dalian palm olein up more than 1% this morning, likely to keep FCPO prices in rebound. Watch out for Oct 1-20 CPO export & production data.
 
Hourly chart remain in a bullish island reversal pattern, close above 2300 level to trigger more upside.
 
*Classic Support & Resistance* 
Resistance:  2330 2350
Support:   2250 2210
 
 *Recommend Trading Plan for the day:* 
1. Buy 2290, stop 2282, profit 2298/2306/2314
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
 
Disclaimer: For idea sharing only, trade at your own risk
 
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