FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 1/11/2019 - Close above 2500 level to trigger more upside

InvestorsDoctor
Publish date: Fri, 01 Nov 2019, 10:09 AM
InvestorsDoctor
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1/11/2019
 
FCPO Jan 20
 
Previous Close: 2485 -11
 
FCPO failed to sustain above 2500 level and closed slightly lower on profit taking. Dalian palm olein remain in rebound stage, expect FCPO to move within previous range.
 
Hourly chart formed higher highs & lows, more to bullish, but be cautious of potential RSI bearish divergence.
 
Classic Support & Resistance 
Resistance:  2570 2640
Support:   2440 2370
 
 Recommend Trading Plan for the day: 
1. Buy 2515, stop 2507, profit 2523/2531/2539
2. Sell 2470, stop 2478, profit 2463/2455/2447
 
 FCPO Margin Requirement 
Overnight  MYR 3000
 
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