FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 2/12/2019 More to bullish, but be cautious as RSI in overbought

InvestorsDoctor
Publish date: Mon, 02 Dec 2019, 10:18 AM
InvestorsDoctor
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2/12/2019
 
FCPO Feb 20
 
Previous Close: 2744 +21
 
FCPO ended higher on last Friday as tracking gains in Dalian palm olein. Watch out for Nov full month CPO production and export data.
 
Hourly chart formed higher highs & lows, more to bullish, but be cautious of potential RSI bearish divergence.
 
Classic Support & Resistance 
Resistance:  2850 2950
Support:   2630 2560
 
 Recommend Trading Plan for the day: 
1. Sell 2730, stop 2738, profit 2722/2714/2706
2. Buy 2750, stop 2742, profit 2758/2766/2774
 
 FCPO Margin Requirement 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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