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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