FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 29/10/2019 - Strong correction, watch out for 2400 level support
InvestorsDoctor
Publish date: Tue, 29 Oct 2019, 09:51 AM
InvestorsDoctor
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29/10/2019
*FCPO Jan 20*
Previous Close: 2398 +14
FCPO took a strong correction on last Friday, from high of around 2460 level to below 2400 level, even it managed to close higher compare to previous session. Dalian palm olein hold above rebound stage, likely to support FCPO.
Hourly chart entered overbought correction, close below 2370 will trigger more downside.
*Classic Support & Resistance*
Resistance: 2460 2510
Support: 2320 2240
*Recommend Trading Plan for the day:*
1. Buy 2407, stop 2399, profit 2415/2423/2431
2. Sell 2376, stop 2384, profit 2368/2360/2352
*FCPO Margin Requirement*
Overnight MYR 3000
Disclaimer: For idea sharing only, trade at your own risk
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