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-
Recent bullish momentum was short lived after FCPO failed to break the 2055 - 2060 zone. As of now, FCPO seems to trade within a contracting triangle. Our primary projection of an expanded triangle looks bleak, but valid nonetheless. With no fundamental element to entice market to climb higher, the last bullish leg (wave c of (e)) of the expanding triangle is...
Based on 30 minutes chart, short term trader has taken cautious position toward FCPO1! . It has been trading within wedge formation since 12 November 2018 until last week. Here are support & resistance level for next week. Support: 2010, 1994, 1979 and 1963 . Resistance: 2043, 2060, 2077 and 2093 . FCPO1! might continue its uptrend even-though...
An expanding triangle is anticipated. Price needs to travel beyond the 2078 price level to ascertain triangle formation. Wave c of (e) is likely to terminate between 2110 - 2125. Any strong violation of EW invalidation level @ 2137 could suggest the next major downtrend may be limited to a certain extent. Market is then expected to embark on another (probably...
Price moving in smaller range this week with production and export data mixing. Near term bullish momentum visible in the daily Chart. Price may move further up to the top of the channel before reversing back into the range again.
Palm oil had dropped almost 150 points in just two weeks time as concern on rising inventory. In fact, demand were surprisingly good during the first 15 days of September. The first 20 days export data is due on today. Trader please be cautious if the continue strong demand will trigger potential price rebound if market have overdone. Speculation of 3.3 m...