happytrading96

Palm Oil Marching towards 5220 ???

Long
MYX:FCPO1!   Crude Palm Oil Futures
Palm oil bounced as bargain buying and persistent sentiment of tight supply moving into Nov and Dec.

Technical Views:
1. CPO prices landed at support level of 4500 and bounce
2. Uptrend Line Well holding
3. Stochastic maintain uptrend signal

In short, maintain ranging to uptrend view in coming week.
immediate support level 4500
immediate resistance level 5220

if unable to break resistance level, double top may form and led to another selling trend.

Good Luck and Happy Trading~
Cheers

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