![](/files/my/blog/img/bl3939_cpo051119.png)
5/11/2019
*FCPO Jan 20*
Previous Close: 2529 +68
FCPO surged to its highest in 20 months yesterday as boosted by expectation of declining production and potential strong demand by biodiesel consumption. Dalian plam olein up near 4% this morning, FCPO likely gap up and test 2600 level.
Hourly chart formed higher highs & lows, more to bullish, but be cautious of potential RSI bearish divergence.
*Classic Support & Resistance*
Resistance: 2570 2640
Support: 2450 2400
*Recommend Trading Plan for the day:*
1. Buy 2533, stop 2525, profit 2541/2549/2557
*FCPO Margin Requirement*
Overnight MYR 3000
Disclaimer: For idea sharing only, trade at your own risk
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