FCPO Updates

Daily Futures Commentaries: [FCPO Malaysia Palm Oil] 30/12/2019 Bullish but be cautious of overbought

InvestorsDoctor
Publish date: Mon, 30 Dec 2019, 10:43 AM
InvestorsDoctor
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30/12/2019
 
*FCPO Mar 20*
 
Previous Close: 3073 +68
  
FCPO jumped to test above 3100 level on last Friday on bullish CPO outlook. Dalian up around 1% this morning, likely to support CPO prices.
 
Hourly chart formed higher highs & lows,, more to bullish, but be cautious as RSI in overbought.
 
*Classic Support & Resistance* 
Resistance:  3150 3250
Support:   3020 2890
 
 *Recommend Trading Plan for the day:* 
1. Buy 3080, stop 3072, profit 3088/3096/3104
2. Sell 3064, stop 3072, profit 3056/3048/3040
 
 *FCPO Margin Requirement* 
Overnight  MYR 4000
 
Disclaimer: For idea sharing only, trade at your own risk
 
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