FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 26/11/2019 Sell down in Dalian palm olein may drag down FCPO prices

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Publish date: Tue, 26 Nov 2019, 09:58 AM
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26/11/2019

 
FCPO Feb 20
 
Previous Close: 2733 -15
 
FCPO took some profit yesterday but still manage to hold above 2 year high. Dalian palm olein drop nearly 2% this morning, FCPO may gap down and test support.
 
Hourly chart formed higher highs & lows, more to bullish, but be cautious as RSI in overbought.
 
Classic Support & Resistance 
Resistance: 2800 2900
Support: 2650 2560
 
 Recommend Trading Plan for the day: 
1. Sell 2724, stop 2732, profit 2716/2708/2700
2. Look for buy signal above 2760
 
 FCPO Margin Requirement 
Overnight MYR 3000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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