FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 3/12/2019 More to bullish, but be cautious of potential bearish divergence

InvestorsDoctor
Publish date: Tue, 03 Dec 2019, 10:00 AM
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3/12/2019
 
*FCPO Feb 20*
 
Previous Close: 2731 -13
 
FCPO settled slightly lower yesterday as tracking weaker related edible oils. Dalian palm olein dropped 1% this morning, likely to drag down FCPO.
 
Hourly chart formed higher highs & lows, more to bullish, but be cautious of potential RSI bearish divergence.
 
*Classic Support & Resistance* 
Resistance:  2780 2840
Support:   2680 2630
 
 *Recommend Trading Plan for the day:* 
1. Buy 2743, stop 2735, profit 2751/2759/2767
2. Sell 2727, stop 2735, profit 2719/2711/2703
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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