FCPO Week 9 2024 - Still bearish.

edramlan Updated   
MYX_DLY:FCPO1!   Crude Palm Oil Futures
FCPO is coiling. Price is almost stalling last week. It goes up one day and then it got taken out the next day. So at the end of the week it is more or less moving no where. It might do the same next week within the flag formation. Still with bearish view for price to move to 3720 area which might be the support area before price eventually moving higher. The bullish view will come into picture if price move and close above the flag resistance area.
FCPO probably has changed course. Looks like it is ready to go higher from now on. Looking for opportunity to go LONG.
Going LONG for initial target of 4070.

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