FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 25/11/2019 - More than 2 year high, bullish

InvestorsDoctor
Publish date: Mon, 25 Nov 2019, 09:46 AM
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25/11/2019

 
*FCPO Feb 20*
 
Previous Close: 2748 +81
 
FCPO hit more than 2 year high as lifted by prospects of lower production and stockpiles. Dalian palm olein up near 2% this morning, likely to support FCPO prices. Watch out for Nov 1-25 CPO export data.
 
Daily chart formed a long green bullish candle on last Friday, with bullish waves in hourly chart, trend is bullish, but be cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance: 2850 2950
Support: 2650 2560
 
 *Recommend Trading Plan for the day:* 
1. Buy 2756, stop 2748, profit 2764/2772/2780
 
 *FCPO Margin Requirement* 
Overnight MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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