EmoteK

FCPO1 (Palm Oil) - Mid Term Technical Analysis

Short
MYX:FCPO1!   CRUDE PALM OIL-RINGGIT FUTURES
We expect a decrease in PALM and there are 3 reasons for this;

  • The first of these is that we believe that Shoulder-Head-Shoulder formation occurs in PALM.

  • The second reason is that the 70.10.10 Stochastic Indicator intersects from above.

  • The last reason is the large Negative Mismatch on RSI .

  • As a result, we expect the prices to decline to 2500 levels in the short/medium term.


However, if the prices rise again, the first levels we will follow will be 3980 and around.


It contains only personal views and opinions. Does not contain legal investment advice ...