FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 12/11/2019 - Boosted by bullish CPO data, above 2660 for more upside
InvestorsDoctor
Publish date: Tue, 12 Nov 2019, 09:56 AM
InvestorsDoctor
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12/11/2019
*FCPO Jan 20*
Previous Close: 2627 +64
FCPO hit near 2 year high at above 2600 level yesterday, as boosted by better than expected CPO data. Dalian palm olein continue to jump more than 1% this morning, expect FCPO to hold its bullish momentum.
Hourly chart formed higher highs & lows, more to bullish, close above 2660 for more upside, but be cautious as RSI in overbought.
*Classic Support & Resistance*
Resistance: 2700 2800
Support: 2500 2450
*Recommend Trading Plan for the day:*
1. If price close downside gap 1st, buy 2600, stop 2592, profit 2608/2616/2624
*FCPO Margin Requirement*
Overnight MYR 3000
Disclaimer: For idea sharing only, trade at your own risk
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