From a technical standpoint, prices have consolidated into a bull flag consolidation pattern since 14 March, breaking out of the flag resistance (orange trend channel) yesterday, albeit with normal volume. This localised breakout coupled with the breakout of the long-term parabolic bowl accumulation pattern at 4,150, a pattern forming since July 2023, signalled a...
Both “oils” Brent and palm take caution! Beware of the palm tree can’t “grow much” as it’s almost hitting “ceiling height”! “Possible a “bull trap”!
Bottom of the channel + great support underneath = Wonderful opportunity ! ASX:CPO
1)On Charts : Charts consist of 3-Dimensions - The X-factor ( Time or Cycle ), The Y- factor ( Price Geometry ), AND The Z-factor ( The Speed ).. 2)On Elliot Wave / Market Structure : Unlike Textbook written rule : ALL Impulsive wave comprise of ONLY a-b-c sub-waves NOT 1,2,3,4,5 waves.. AND there is NO Truncated 5th wave BUT ONLY wrong wave counts... Disclaimer
I'm looking at daily chart of the price action in Golden Agri Resources E5H vs it's main product Palm Oil over a 5 year time period. Golden Agri looks to me to be one of the major producers of palm oil, and I'm pretty sure that most people have never even heard of them. To me this looks like an open jaw setup, and I believe those jaws will close. Palm oil is one...
this is haidojo and the number is 318 ... After a mild rebound frm 5440-5520 range, fcpo-apr didn't make any New Structure High (NSH) but forming a Double Top (DT). The NSH is 5749 and any breakout pattern/trade needs to move higher than this level. The next level is 5220-5380 was also hit and rebound into 5570-5630 level. Now, fcpo-apr is at the crossroad...
Palm Oil prices extended gains and closed sharply higher at 4993. As market eyeing on upcoming MPOB data to assess the impact on production from flooding in recent weeks disrupting harvesting activities . MPOB data is scheduled to release its Dec data on Monday. Factors continue to affect palm oil prices: 1. Ongoing flash floods in several states continue to...
this is haidojo and the number is 314 ... Merry Christmas and Happy New Year ! Today is 6th Jan 2022 and fcpo-March22 is still the active third month. This is the first post this year. The previous bearish bat pattern is no longer valid as the "X leg" is violated. Yesterday, fcpo-march22 not only broke abv the resistance of 4850 but also retest the previous...
Palm oil plunged as expected last week. Market hit weekly low at 4567 and closed at our 1st resistance level. Main reason of the weakness in CPO market due to the uncertainties over the impact Omicron coronavirus variant which dented demand for CPO. Technical view: 1. Immediate resistance level: 4700-4730 2. Stochastic level= Sell Signal remain Suggestion...
this is haidojo and the number is 311 ... Today is 2nd Dec 2021 and fcpo-Feb22 is still the active third month. After bouncing on and off within the range till 19th Nov 21, the price has descended gradually by showing lower and lower highs. The new low was at 4636 yesterday and this was a lower-low than the previous one (4709). So, we have a continuation of...
this is haidojo and the number is 308 ... Today is 18th Nov 2021 and fcpo-Feb22 is the active third month now. After bracketing the market, you probably find that the market price has broken below the perceived support level (4850) and reached a new low at 4709. Then, we got a problem. It is still between the bull and bear territory. The 2 monsters are having a...
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...
this is haidojo and the number is 306 ... Today is 8th Nov 2021 and fcpo-Jan22 is going to expire next week. Nov is a bit tricky with last Friday when suddenly fcpo-Jan22 gap down close to 100pts and went down...If you are holding long positions, then thr is really not much u can do...cutting loss is the most logical thing to do btw... As for the previous...
this is haidojo and the number is 304 ... Today is 13th Oct 2021 and fcpo-dec21 is going to expire in 2 days or less. October has been blessed with the continuation of aggressive bull which resumes the rally frm last month. Still, the momentum of the long-run bull persists and there is no sign of slowing down. If you are trading some kinda...
too high too fall, coo all time high after energy crisis issue.
Next target i think to > 1400 Manage Your Money Management Risk In Your Hand Press Like & Follow if u like my content --- Thank You ---
this is haidojo and the number is 302 ... Today is 1st Oct 2021 and fcpo-dec21 is the active month. After a long awaiting of consolidation since July this year, fcpo price finally made a move which breaks into a new structure high yesterday, 4598 high and closed at this all-time high. Yes, that is correct. You are witnessing a history being made right now. This...
this is haidojo and the number is 301 ... today is 14th Sept 2021 and fcpo-nov21 is going to end soon. In two days or less, fcpo-dec21 is going to emerge as the new third active month. We have been in this sideway since the retest of the high near the end-of July 2021. It is almost 2 months now. Adding on to the chart is that, now we are having an "ascending...