Palm oil bounced as bargain buying and persistent sentiment of tight supply moving into Nov and Dec. Technical Views: 1. CPO prices landed at support level of 4500 and bounce 2. Uptrend Line Well holding 3. Stochastic maintain uptrend signal In short, maintain ranging to uptrend view in coming week. immediate support level 4500 immediate resistance level...
FCPO formed hammer at immediate support level at 4750 by last Friday and bounce following MPOB data today. MPOB data showed flat to lower production and extended labor crunch slowed harvesting activity continued. Technical view, 1. touched support level at 4750 and bounced 2. hammer formed at support level 3. stochastic at oversold level Can seek for long...
Palm oil range lower as market remained cautious ahead of export data and MPOB data release. However stronger rival oils and global supply concerns remained support. Palm oil range: 4800-5100 Stochastic level at 50.00 indicates market direction remain uncertain.
Palm oil prices remains at 5,000 last week. As market remained concerns over low production and inventories due to labor shortage. However, reducing in export demand capped gains. Market likely to move within the range of 4750-5250 in near term, until market break from the price range and sustain above 5250 or below 4750, then follow by new direction. While...
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...
this is haidojo and the number is 250 ... as for the new arrival of fcpo-apr, it still doesn't turn over the downtrend, which means, it is for real....not a quick retracement... As for today, another critical support has been broken...a "higher-low" in daily chart...(needless to argue, if you don't trade this method, stick to your method)... Significantly, it...