FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 30/10/2019 - Bullish Dalian momentum likely to boost FCPO prices further

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Publish date: Wed, 30 Oct 2019, 09:26 AM
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30/10/2019
 
*FCPO Jan 20*
 
Previous Close: 2417 +19
 
FCPO back to above 2400 level as tracking strength in related edible oils. Dalian palm olein up near 2% this morning, expect FCPO to gap up and test resistance level.
 
Hourly chart entered overbought correction, but sustain above middle line of BB, in a bullish wave, close above 2460 to trigger more upside.
 
*Classic Support & Resistance* 
Resistance:  2460 2520
Support:   2370 2320
 
 *Recommend Trading Plan for the day:* 
1. Buy 2420, stop 2412, profit 2428/2436/2444
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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