MyTradingSpace_JK

Sept20 - CPO (1M) - New Bull Cycle if Stays Above R@2.8-3.1k

Long
MYX:FCPO1!   CRUDE PALM OIL-RINGGIT FUTURES
I just did a long-term analysis on Bitcoin , which yielded a similar outcome -- long term Bull Cycle.
Fundamentally, I'm suspecting this is a signal for what's likely to come next -> High-Inflation or Hyper-inflationary era due to overprinting of USD (global reserve currency), which is typically marked by inflated food/soft commodity prices, & a capital flight to alternative store of value.

Back to CPO, we've been in the WXY ( Elliott pattern) or triangle consolidation phase for over 10yrs, since 2009 sub-prime plunge.
Post-COVID bounce does seem to be taking an impulse 5-wave form so far, suggesting a potential wave1 of new Bull trend, for as long as price stays above 2800-3100+ R-zone.

Successful standing above Major R1: ~2.8-3.1k, on the next test, will mark the end of long term consolidation.

Happy Hunting! 🥂🚀
-jk-

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