26/7/2019
FCPO Oct 19
Previous Close: 2058 +29
FCPO up for 3 days in a row as tracking strength in related edible oils. Dalian palm olein & US soyoil remain positive this morning, FCPO likely to test resistance level 1st. Watch out for Jul 1-25 CPO production data.
Hourly chart continue rebound from RSI bullish divergence, but be cautious as price in overbought zone.
Classic Support & Resistance
Resistance: 2075 2115
Support: 2020 1990
Recommend Trading Plan for the day:
1. Buy 2063, stop 2055, profit 2071/2079/2087
2. Sell 2051 for technical correction, stop 2059, profit 2043/2035
FCPO Margin Requirement
Overnight MYR 3000
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