FCPO Updates
Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/11/2019 Watch out for potential hourly H&S bearish reversal pattern
InvestorsDoctor
Publish date: Wed, 27 Nov 2019, 10:06 AM
InvestorsDoctor
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27/11/2019
*FCPO Feb 20*
Previous Close: 2676 -57
FCPO fell sharply to below 2700 level yesterday as tracking sell down in related edible oils. Dalian palm olein continue to fall on this morning, FCPO may test support level.
Hourly chart retreated from RSI overbought, watch out for potential head & shoulder bearish pattern if close below 2630.
*Classic Support & Resistance*
Resistance: 2700 2760
Support: 2630 2580
*Recommend Trading Plan for the day:*
1. Buy 2680, stop 2672, profit 2688/2696
2. Sell 2660, stop 2668, profit 2652/2644/2636
*FCPO Margin Requirement*
Overnight MYR 4000
Disclaimer: For idea sharing only, trade at your own risk
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