kkgoh87

kkgoh87

Price hit 2260 at the top of the trend line and reverse back into the range today. Price closed respecting the channel and the significant level at 2238 (again), and is Holiday tomorrow. Moving forward to Thursday, we may see bearish momentum pushing it towards bottom trend line and start moving in ranges, before any news / data releases that will build up any...

kkgoh87

Light Crude oil futures price broke through the base trend line (significant level) last week and last day candle closed with bearish momentum after hitting the base trend line in daily chart. Further bearish possible towards -61.8% level, is also the swing low of the weekly chart.

kkgoh87

Friday candle closed with limited bullish momentum. However daily high was looking to break through weekly high. And it was still a higher low at closing. This week price may re-test the high and if it breaks 2265, price may push towards 2288 at weekly significant level.

kkgoh87

The significance of monthly base trend line is in play at this week. Price rebounding from it and momentum unclear. On 4hr and 1hr chart prices seems to move in ranges channeling up, which in my opinion will retest last week's target at 2238 again and move into the range then.

kkgoh87 Updated 

FCPO price at monthly base trend line after reversing up from the weekly base trend line last week. Bullish momentum may continue into August for the next monthly candle. Shorter time frame in Chart H1 up trend fibonacci range confirmed. Price retesting the micro trend line from chart D1. If it broke trough again, price will then continue up towards the 2238...

kkgoh87

FCPO daily opens gap up due to fundamentals, following CBOT bullish momentum and Indonesia palm oil stockpile down m/m. Another reason of reversal was price hit the bottom trendline from Chart W1. Price may move in ranges if it reaches 0.0% level.

kkgoh87

LIGHT CRUDE OIL FUTURES some bullish momentum after reversal @ 38.2%

kkgoh87

Price rebounding from Fibonacci -27.2% level last week and may turn bullish for a while before hitting the 0.0% of the range.

kkgoh87

Price rebounding from Fibonacci -27.2% level last week and may turn bullish for a while before hitting the 0.0% of the range.

kkgoh87

Price broke through Fibonacci retracement -27.2 level and bearish momentum could continue to -61.8% level before reversing back into the range. 1987 is the significant level (swing low) of the monthly chart.