Week 37: 07 to 11 September 2020 FCPOX 2020 analysis Last week the price broke the resistance level, however it was not a clean break. It means, it was not really a sign to be bullish yet. We are anticipating two possibilities: The key to observe is RM 2,740 - 2,750, we will see the behaviour of Price Action in this area. (1) If the price bounce at RM 2,745...
Weakening momentum finally coming into effect. 🐻 First close below UTL-L1 since July, potentially find L2, which resides near S1: ~260x Sideway box between 2600-2800 thus far, if S1 fails, look for next support zone, S2. Major Levels to Watch: ⚠️ R2: 276x-8x R1: 270x-2x S1: ~260x S2: ~250x My latest mobile updates available on TeL egr am ;) Happy...
Decided to check on the long-term big picture, following CPO recent strong up-move towards 2800 area (again!). ---- marked: grey zone 2600-2800 zone is kinda midpoint to the decade-long correctional pattern following '08'09 subprime crash. A fib plot of the sharp plunge, shows each levels coincides well with CPO major support & resistance zone. As of...
The week started weak, despite a high close on Friday. Past week's momentum weakness effect kick in, immediate UTL (blue) violated, potential retest ~2500 mark shall price stay below R1 ~270x. Happy Hunting! 🚀🚀 -JK- MyTradingSpace
Week 31 (27 July - 30 July 2020) Code: FCPOX 2020 As at today, the price is still within the trend channel, ranging in the middle of the zone. There is no a confirmation to take any actions yet, personally I am quite bearish bias and we should wait for a price confirmation to sell. For an aggressive trader: If today/tomorrow price is closed below 2640, then we...
Week 30 (20th to 24th July 2020) Futures code: FCPOX 2020 This is my first post analysing CPO Futures and I will try to make it a weekly post. Historically 2650 is a good Resistance level to watch and in the past 3 days CPO prices were failed to breached through. RSI Stoch also is starting to bend down, along with a slowing down in Bullish momentum. If you are...
Strong rally, as price continues to break higher, momentum has been weakening since July15. Thus, may see some sideways consolidation ahead, before market decides its next major move. At the moment, still early to set the boundaries for potential sideways move ahead, For now, potential range between 260x-270x, or wider, will update as price develops. :) Happy...
CPO still playing within 230x-240x range, which has pretty much defined price movements back in June. Next test on S1: ~230x will be crucial for CPO mid-term (3Q2020) outlook. Slight biased to the bears as of writing. Shall S1 fail on next test, major target will be S2 zone. Levels to Watch: Major R: 244x-6x Major S1: 230x-3x Major S2: 220x-3x ...
Thursday June25 gap down violated Daily UTL... 👇🏻 Momentum weakness, look to S1 as potential first support zone. Important Levels to Watch: R2: ~246x R1: 240x-2x S1: 240x-3x S2: 220x-2x Happy Hunting! 💰🚀 -JK- MyTradingSpace
disclaimer mode : on basic argument : just wild guessing with baseless conclusion story build & narrative : - just late phase of downturn on CPO price panic mode in the new normal condition after pandemic scenario (wild guess) - replanting old and mature tree which economic age already reached (old data & facts) ...
CPO still bullish in short term, but for long term, FCPO remain bearish.
FCPO dijangka akan meneruskan pullback terlebih dahulu selepas raya sebelum meneruskan kembali kenaikkannya.
Detail @ The Chart
truly full of drama ...and saga of CPO throughout region.... just speculate and funny post, no detailed explanation and wildly guess #disclaimer_mode_on
Yesterday's CPO has dropped due to the drop on the sales result. Expect to rebound today. Current: Still under downtrend Expect to rebound and continue to drop Long - at market open, TP before 2550(wait for retrace if manage to TP), CL 2430 Short - if break blue trend line *This are my own trading plan, no intention to ask reader to buy/sell. Share with me...
Hi Guys, as usual, start the year with annual outlook on FKLI & FCPO. First try on video commenting, microphone volume was abit too low, just turn up your volume will do ;) Hope you like it! Happy Hunting & Happy 2019! -jk-
Weekly demand zone between 1863 - 1953 is being tested yet again. A small overshoot of wave 5 (circle) below 1940 is expected rather than a truncation with dashed line governing the extreme. Any strong movement below dashed line or 1900 price level will require a recount. #contengconteng #fcpo #crudepalmoil