An expanding triangle is anticipated. Price needs to travel beyond the 2078 price level to ascertain triangle formation. Wave c of (e) is likely to terminate between 2110 - 2125. Any strong violation of EW invalidation level @ 2137 could suggest the next major downtrend may be limited to a certain extent. Market is then expected to embark on another (probably...
Price moving in smaller range this week with production and export data mixing. Near term bullish momentum visible in the daily Chart. Price may move further up to the top of the channel before reversing back into the range again.
Palm oil had dropped almost 150 points in just two weeks time as concern on rising inventory. In fact, demand were surprisingly good during the first 15 days of September. The first 20 days export data is due on today. Trader please be cautious if the continue strong demand will trigger potential price rebound if market have overdone. Speculation of 3.3 m...