FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 31/10/2019 - Bullish Dalian momentum likely to boost FCPO prices further

InvestorsDoctor
Publish date: Thu, 31 Oct 2019, 09:58 AM
InvestorsDoctor
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31/10/2019
 
*FCPO Jan 20*
 
Previous Close: 2496 +79
 
FCPO jumped to its highest since Apr 2018 on bullish production outlook and supported by strong related edible oils. 
 
Hourly chart formed higher highs & lows, more to bullish, but be cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance:  2550 2650
Support:   2440 2370
 
 *Recommend Trading Plan for the day:* 
1. Buy 2500, stop 2492, profit 2508/2516/2524
2. Sell 2485 for technical correction, stop 2493, profit 2477/2469/2461
 
 *FCPO Margin Requirement* 
Overnight  MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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