Strong support at areas 3790 and 3745...maybe the market will pull back when arrive at the support area...Can try to find buying position if the market makes bullish patterns like double bottom or inverse HnS...The daily bullish structure has broken...can try to find a sell position back after the market has a pullback...
MACD EMA 12; 26
Signal line EMA 9
MACD >0 ; Bearish Divergence
MACD BELOW SIGNAL LINE (Bearish; Sell Signal)
Offsetting (Long LMT (TP1 +8% & TP2 +9%)
Offsetting (Long STPL (Stop Loss -8%)
Look like FCPO will continue to go up till 4412 before going down back...area to buy is at 4253 till 4245...but if the price keeps going down and breaks 4185 I will look to short back...I think the price will go down to 4025 or 3993 to complete the sequence
This chart caught our attention recently. The Crude Palm Oil – Soybean Oil Spread (in USD per Metric Ton) is trading close to an all-time high now.
This spells trading opportunity for us as Palm Oil and Soybean Oil are generally considered substitute products, which means, at a large enough price difference, buyers may hop over to buy the cheaper one....
If the price can make a new higher high...Strong resistance from the Daily Time frame is at 4533 and 4599...can find the setup for a long position or just wait to see what the market is doing...If the market does not make a new high I will stick to my old plan to remain bearish...
Maybe the price will go lower back today...area the price of 4449 is strong resistance to short back...1st target is 4238 if the price break the low of 4270..if the price break the high of 4497 this analysis is invalid
EP 4481
TP 4655
SL 4238
Backtest result from 2022-09-27 14:30:00
60 trades
59% win rate
p.s: not a financial advice
#deepagiscreener #tayor #fcpo #bukanbuycall
EP 4363
TP 4500
SL 4280
Backtest result from 2022-09-21 14:35:00
60 trades
57% win rate
p.s: not a financial advice
#deepagiscreener #tayor #fcpo #bukanbuycall
Global data/news (Reuters and Trading Economics)
• Soybeans futures were trading above 14 per bushel in early November, close to six-week highs, supported by supply disruption in top exporter Brazil and growing export sales to major consumer China.
• The dollar index DXY eased below 111.5 on Wednesday, struggling to gain traction as investors stayed on the...
Global data/news
• Gold prices pared some gains on Tuesday as the dollar and bond yields rebounded after strong U.S. jobs data raised worries that the Federal Reserve would stick to its aggressive stance on interest rates for some time.
• Soybeans rose on hopes of more U.S. export sales to China, while protests were eyed in Brazil - including road blocks - after...
Global data/news (Reuters and Trading Economics)
• Chicago wheat futures jumped 6% and corn rose more than 2% on Monday as Russia's withdrawal from a Black Sea export agreement raised concerns over global supplies. (Reuters)
• India sharply raised the base import prices of crude and refined palm oil and crude soya oil, the government said in a statement on...
The ROC indicator is plotted against zero, with the indicator moving upwards into positive territory if price changes are to the upside, and moving into negative territory if price changes are to the downside.NA rising ROC above zero typically confirms an uptrend while a falling ROC below zero indicates a downtrend.BNow ROC is hover near Zero, so its signal for...
