FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 20/12/2019 Strong rebound in related edible oils, FCPO likely gap up

InvestorsDoctor
Publish date: Fri, 20 Dec 2019, 10:02 AM
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20/12/2019
 
*FCPO Mar 20*
 
Previous Close: 2874 +16
  
FCPO recovered part of its previous losses yesterday. Dalian palm olein up more than 2% this morning as lifted by US soyoil, expect FCPO to gap up and test above 2900 level. Watch out for Dec 1-20 CPO data.
 
Hourly chart back to previous range, 2800 or 2930 wait for breakout.
 
*Classic Support & Resistance* 
Resistance:  2930 3000
Support:   2800 2740
 
 *Recommend Trading Plan for the day:* 
1. Buy 2886, stop 2878, profit 2894/2902/2910
2. If FCPO gap up, look for sell signal if unable to hold above 2930
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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