FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 17/12/2019 Sideway to higher, 2930 or 2850 wait for breakout

InvestorsDoctor
Publish date: Tue, 17 Dec 2019, 10:11 AM
InvestorsDoctor
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17/12/2019
 
*FCPO Mar 20*
 
Previous Close: 2875 +30
  
FCPO up more than 1%, recovering from previous session's sharp fall as supported by stronger related edible oils. Dalian palm olein up more than 1.7% this morning, expect FCPO to gap up.
 
Hourly chart in sideway to higher trend, 2930 or 2850 wait for more breakout.
 
*Classic Support & Resistance* 
Resistance:  2930 2960
Support:   2850 2790
 
 *Recommend Trading Plan for the day:* 
1. Buy 2886, stop 2878, profit 2894/2902/2910
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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