FCPO ANALYSIS 22.02.2024

MYX_DLY:FCPOK2024   Crude Palm Oil Futures
1) Prediction of a decrease in FCPO prices for the May contract.

2) Identification of resistance zones as the main reason for the downward prediction, including:
-Trendline now acting as resistance.
-Fibonacci retracement levels (78.60%, 1.236) and extensions (161.8).

3) The presence of a QM pattern, indicating a possible trend reversal.


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