FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 24/10/2019 - Potential technical correction below 2300
InvestorsDoctor
Publish date: Thu, 24 Oct 2019, 09:55 AM
InvestorsDoctor
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24/10/2019
*FCPO Jan 20*
Previous Close: 2322 +5
FCPO retreated from high near 2360 level after consecutive days of gains for technical selling. Dalian palm olein in profit taking this morning, FCPO may test support level 1st.
Hourly chart closed downside gap with potential RSI bearish divergence, close below 2300 level to trigger more correction.
*Classic Support & Resistance*
Resistance: 2360 2440
Support: 2260 2230
*Recommend Trading Plan for the day:*
1. Sell 2320, stop 2328, profit 2312/2304/2296
*FCPO Margin Requirement*
Overnight MYR 3000
Disclaimer: For idea sharing only, trade at your own risk
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