FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/10/2019 - Hit more than 16 month high, bullish ,watch out for export data
InvestorsDoctor
Publish date: Fri, 25 Oct 2019, 10:10 AM
InvestorsDoctor
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25/10/2019
*FCPO Jan 20*
Previous Close: 2384 +62
FCPO surged to more than 1 year high yesterday as boosted by bullish outlook and optimism on Malaysia-India trade relation. Watch out for CPO Oct 1-25 export data.
Daily chart formed a long green candle to trigger double bottom bullish chart pattern, potentially further upside but be cautious as RSi in overbought.
*Classic Support & Resistance*
Resistance: 2460 2510
Support: 2320 2260
*Recommend Trading Plan for the day:*
1. Buy 2409, stop 2401, profit 2417/2425/2433
2. If price retrace 1st, look for buy signal around 2350 level
*FCPO Margin Requirement*
Overnight MYR 3000
Disclaimer: For idea sharing only, trade at your own risk
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