FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 16/12/2019 Testing break down from sideway, below 2840 for more downside

InvestorsDoctor
Publish date: Mon, 16 Dec 2019, 09:53 AM
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16/12/2019
 
*FCPO Mar 20*
 
Previous Close: 2845 -28
  
FCPO reversed gains and fell for profit taking on last Friday. Watch out for CPO data Dec 1-15. Dalian palm olein prices were slightly lower this morning, FCPO may first test support. 
 
Hourly chart testing break down from sideway, close below 2840 for more technical correction.
 
*Classic Support & Resistance* 
Resistance:  2910 2960
Support:   2780 2730
 
 *Recommend Trading Plan for the day:* 
1. Sell 2743, stop 2751, profit 2735/2727/2719
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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