FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 22/11/2019 - Failed to sustain above 2700 level on profit taking

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Publish date: Fri, 22 Nov 2019, 09:59 AM
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22/11/2019

 
*FCPO Feb 20*
 
Previous Close: 2667 -18
 
FCPO retreated from above 2700 level on technical selling. Dalian palm olein drop nearly 1% this morning, FCPO may gap down and test support level.
 
4H chart formed higher highs & lows, more to bullish, but be cautious of potential bearish divergence.
 
*Classic Support & Resistance* 
Resistance: 2710 2760
Support: 2600 2560
 
 *Recommend Trading Plan for the day:* 
1. Sell 2655, stop 2663, profit 2647/2639/2631
 
 *FCPO Margin Requirement* 
Overnight MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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