FCPO - Price at Major Support Zone 2202
Rising production data providing pressure to price. Reader please look at the left chart, retracement level 2202 (61.8%) were good support for FCPO since beginning of August. Price rebound two times from this price level. When the time production increasing rising pace during September, demand was surprisingly good during September as well.
The story on the right chart showing lower time frame projection, as price below 2213, will see 2158. Their room of battle within fundamentals and current price level. Trader please trade with cautious, export and production data are due on tomorrow.
CPO Data Sept 2018
ITS Export
Sept 1-5: 262, 020 vs. 169, 066 (+54.98% )
Sept 1-10: 489,492 vs. 300,326 (+63%)
*Sept 1-15: 752,317 vs 424,487(+77.2%)*
SPPOMA Production
Sept 1-5: +24.15%
Sept 1-10: +3.41%
*Sept 1-15: +12.65%*
The story on the right chart showing lower time frame projection, as price below 2213, will see 2158. Their room of battle within fundamentals and current price level. Trader please trade with cautious, export and production data are due on tomorrow.
CPO Data Sept 2018
ITS Export
Sept 1-5: 262, 020 vs. 169, 066 (+54.98% )
Sept 1-10: 489,492 vs. 300,326 (+63%)
*Sept 1-15: 752,317 vs 424,487(+77.2%)*
SPPOMA Production
Sept 1-5: +24.15%
Sept 1-10: +3.41%
*Sept 1-15: +12.65%*
Comment:
Price trading lower than previous two low, traders please focus on next target 2158.
Trade closed: target reached:
Reached projection target 2158
