FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 22/10/2019 - Dalian in profit taking, FCPO may see some technical correction
InvestorsDoctor
Publish date: Tue, 22 Oct 2019, 09:39 AM
InvestorsDoctor
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22/10/2019
*FCPO Jan 20*
Previous Close: 2285 -2
FCPO erased its gains from above 2300 level near market close and settled lower compare to previous session. Dalian palm olein down slightly this morning, FCPO may start some profit taking. Watch out for CPO Oct 1-20 production data.
Hourly chart retreated from RSI overbought, close below 2280 may trigger more technical correction.
*Classic Support & Resistance*
Resistance: 2350 2400
Support: 2240 2170
*Recommend Trading Plan for the day:*
1. Sell 2283, stop 2291, profit 2275/2267/2259
*FCPO Margin Requirement*
Overnight MYR 3000
Disclaimer: For idea sharing only, trade at your own risk
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