FCPO Spread FCPOK-FCPON2024 attempt to breakout
Updated
FCPO SPREAD Contract May2024 vs July2024 is attempting breakout from previous swing high 141
Spread Bullish MA Lineup -> Trending Up
Breaks and close above Turtle Resistant 138 -> Bullish
Upward Momentum -> Bullish
Support
Next target levels
Spread Bullish MA Lineup -> Trending Up
Breaks and close above Turtle Resistant 138 -> Bullish
Upward Momentum -> Bullish
Support
- 124
Next target levels
- 165
- 179
- 203
Note
Breakout and hit 165 target next target 179
Trade active
Comparing May-July 2023 spread vs 2024 Spread2023 Spread starting to breakout early MAR 2023 and move towards 700 points peak end of May 2023 before sharp decline..
Will 2024 Follow same pattern ?
Trade active
2024 May/July Fcpo Spread bounce from 140 level which is now become Resistant turned Support.. The trend is similar to 2022/2023 Trend.. Monitor until first week of april before raya
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