We expect a decrease in PALM and there are 3 reasons for this;
The first of these is that we believe that Shoulder-Head-Shoulder formation occurs in PALM.
The second reason is that the 70.10.10 Stochastic Indicator intersects from above.
The last reason is the large Negative Mismatch on RSI.
As a result, we expect the prices to decline to 2500 levels in...
Weekend Market Update – 18 Oct 2020 | FCPO, Soybean, Soybean Oil, Currencies and Others
Take note that the updates here are 2 days late. If you would like the latest updates, please visit palmanalysis dot com
Let’s start the report with a review of the past 2 weeks.
1) In my last update on the 4th Oct, I expected:
i. On Point 13 ii, I...
Weekend Market Updates & Analysis 4 Oct 2020
1) FCPO opened higher Monday and then traded lower by Friday, closing near the low of the week.
Recap from last Weekend’s update.
You can read last week’s update here: Weekend Updates – 27 Sept 2020 | CPO, Soybean, Soybean Oil & Currencies
2) On Point: 58, 59, 60: In my last update, I have said that...
Weekend Market Updates & Analysis 27 Sept 2020
Where we are
1) The market opened higher on the 21st, and started to sell off in the afternoon throughout the whole week, and had a short covering outside up bar on Friday on some short profit taking.
2) When I was writing the last market report, prices was still very bullish and there was no indication of any...
Weekend Market Updates & Analysis 20 Sept 2020
1) Hello All, been a while since my last market updates on 27th March 20 when the market volatility was very high and the “Everything” sell off occurred. A few of you have been asking if I would restart my writings and thoughts of the market, and I too thought I should restart it. It helps me think through all of the...
Week 39: 21 to 25 September 2020
FCPOX 2020 analysis
Despite the bullish momentum is very strong, personally we can short FCPOX2020 with a very good Risk Reward Ratio.
We only need to risk RM24 to get RM336, that is 14R.
Again, this is a risky move as we are trading against the trend, but, this is a worth trying.
Here is my personal trade:
Sell at market now...
Price might be reach to the next monthly resistance line. Besides that, the chart pattern in the making of potential rising wedge which is one of the bearish signal to take a look. In addition, long term trend still downtrend and the price compressing to reach supply zone around RM1.30. Let's see how the price react with this analysis.
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...
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...
RSAWIT (High Risk)
Spp: 0.175/ 0.16
Support seems affirming at alongside MA200 (greenline in chart), with consistently healthy volume and bullish indicators. Likely to have further departure from MA200.
Broke above 200ma daily & closed just above 50ma, if Monday we hold above this level then we might be heading towards weekly 200ma, eventually there will be some retrace to possibly the RSI support so best to buy on a dip as long as we stay above weekly 50ma 1.53p
Equatorial Palm Oil plc (AIM: PAL), the AIM listed palm oil development...