FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 27/12/2019 Close above 3000, sustain above this level for more upside

InvestorsDoctor
Publish date: Fri, 27 Dec 2019, 10:18 AM
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27/12/2019
 
*FCPO Mar 20*
 
Previous Close: 3005 +82
  
FCPO closed above 3000 level for the 1st time since Feb 2017 on slowing production outlook. Dalian up more than 3% this morning, likely to limit downside of FCPO.
 
Hourly chart formed a strong breakout from sideway, more to bullish, but be cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance:  3050 3080
Support:   2960 2930
 
 *Recommend Trading Plan for the day:* 
1. Buy 3009, stop 3001, profit 3017/3025/3033
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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