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Fcpo!

CPO Extended Gains to Record HighPalm oil prices gone up higher as expected and closed at 5322 after posted record high at 5327. Factors continue to affect palm oil prices: 1. New export permit policy in Indonesia which required exporters of vegetable oil to gain approval for their shipments and declare their domestic sales with the objective to ensure that sufficient supply of cooking oils in domestic market. New regulation may curb supplies from Indonesia and led buying spree in Malaysia. Besides, India likely to shift their imports to soybean and sunflower oils as replacement. 2. Bullish sentiment in global oil market continue to support palm oil prices. 3. Strong gains in soybean oil following latest weather forecast that turned into hot and dry weather in Argentina and Southern Brazil which may result further yield deterioration. Technical View: 1. Market break new high and closed above 5300 2. Stochastic remains uptrend signal Suggestion Trade: Long if stay above 5300 Target Stop Loss (support level) 5100 Target Profit (resistance level) TP1 5425 TP2 5525 TP3 5625
MYX:FCPO1!Long
by happytrading96
FCPO Continue RallyPalm oil prices posted gains and closed at 5123, after touched on resistance at 5164. For your information, FCPO January contract expired last Friday. Next Monday onwards will be started to trade on FCPO April contract. Factors continue to affect palm oil prices: 1. Market remained concerns over labour shortages which caused lower palm oil production. 2. Price movement in related vegetable oils as they compete for a share in global vegetable oils market. 3. India edible oil imports in 2022 expected to fall by 2% as the country boost domestic production, said Malaysian Palm Oil Council at an industry conference. 4. Malaysia Biodiesel Association urged industry officials to come to terms with steady decline in imports of palm-based biofuels in European Union following its decarbonization agenda. 5. Stronger Ringgit Malaysia pressured as overseas buyers find it costlier to purchase Malaysia CPO. Technical View: 1. Market closed above 4900 2. Stochastic shows K% line crossed up which indicates uptrend signal. Suggestion Trade: Long if stay above 5000 Target Stop Loss (support level) 4850 Target Profit (resistance level) TP1 5100 TP2 5200 TP3 5300 Happy Trading!! Cheers. ** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
MYX:FCPO2!Long
by happytrading96
CPO Breaking Historical High 5220Palm 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 weigh on palm oil prices 2. Seasonal low production cycle during the 1st half year with higher demand expected ahead of Chinese New Year. 3. Labor Shortage remained key issue 4. Higher CPO prices raising worries over stiff competition from Indonesia 5. Persistent supply concerns in Soybean Oil due to hot and dry weather in South America served support in palm oil prices Technical View: 1. Market closed sharply higher at 4993, right below level of 5000 2. Stochasctic shows K% line is crossing up which indicates market turning up and resume uptrend. We expect market continue to move higher if market stays above level of 5000. Suggestion Trade: Long if stay above 5000 Target Stop Loss (support level) 4850 Target Profit (resistance level) TP1 5100 TP2 5250 TP3 5350
MYX:FCPO1!Long
by happytrading96
1
FCPO TRADING : 314) reversal of trend, invalid bearish bat 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 higher-resistance at 5040. Hence, by doing so, the price has broken abv the previous lower-highs at 4950 and 4914 and a "bullish rotation" is said to have had happened. Now, the tide has changed and the new preference is going for the "long on the dip". The first "killing zone" to lookout is ranging frm 4890 - 4810 with the solid support at 4845-4850...If you have observed dearly, this is the first "resistance-turn-support" region to look out for. The next support to look at is ranging frm 4730-4710. That's all for the update today. *plan your trade and trade your plan... gud luck* resistance : 5040 support : 4810-4890 WARNING! RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING . It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
MYX:FCPO1!Long
by HAIDOJO_trading
Palm Oil Upside Continue?Palm oil prices extended gains and closed higher at 4697 Technical view: Market holding well at 4600 Market likely to move within the range of 4600-5220 Stochastic level: Market move towards mid level which indicates sideway range signal in the market Suggestion Trade: Market expect to move in range to upward bias ahead of Malaysia Palm Oil Board data release (10 Jan 2022) Initial Long if market stays above or near support level at 4600 Stop Loss (Support level) 4465 Target Profit (Resistance level) TP1 4900 TP2 5000 TP 5100 Initial Short if near resistance level at 5100 Stop Loss (Resistance level) 5230 Target Profit (Support level) TP1 4700 TP2 4600 TP 4500 Disclaimer: Trading Carries Risks. Happy Trading!! Cheers.
MYX:FCPO1!
by happytrading96
FCPO TRADING : 312) possible bearish bat pattern in sideway mktthis is haidojo and the number is 312 ... Today is 28th Dec 2021 and fcpo-March22 is the new active third month. This is my second post after the commencement of the T + 1 night trading since 6th Dec 2021. Night trading is not that merry, but it is still too early too say. The impact on the fcpo market is still mild but it has great effects on the traders who already trade full-time/part time especially those who have other side income other than trading fcpo. Time management becomes crucially important as they have to devote their night time frm 9:00pm-11:30pm as well. Unless u juz trade certain sessions eg for me, I juz trade the morning sessions and go to work in the evening and night time. This however posts some gravely side effects as when the trend comes, I have to monitor frm time-to-time tru other apps...highly recommend "wen hua chai jing",,,u can get real-time charts and functions... Back to our business here. Thr is another thing to watch out. A possible formation of bearish bat pattern. The killing zone is somewhere around 4845-4850, SL could be put some 20-30pts abv the entry and 1st tp 4760 and 2nd tp 4630...that's all for this year. see u next yr. Merry Christmas and Happy n=New Year! *plan your trade and trade your plan... gud luck* resistance : 4755, 4850 support : 4630, 4560 WARNING! RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING. It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
MYX:FCPO1!Short
by HAIDOJO_trading
Can Palm Oil Prices Hold at 4000?Palm oil prices slumped and closed at 4408. Last week palm oil prices broken support level at 4700 and touched on weekly low at 4245. There were several factors we can look into: 1. Market plunged about 4.5% on Wed after cargo surveyor reported larger than expected drop in export 2. Price movement in global vegetable oils market also affected palm oil prices 3. Stronger crude oil prices has make palm oil prices more attractive 4. Tightening production due to labor shortage continue serve support to palm oil prices 5. Stronger dollar and weakening Ringgit Malaysia also helps in palm oil prices Technical view: 1. Long Black bar formed which indicates bearish signs 2. support level at 4500 broken, market further test support level at 4200 3. Stochastic level= remain bearish sign Suggestion Trade: maintain bearish view for FCPO next week with immediate resistance level at 4545 Initial Short if market below 4545 Stop Loss (Resistance level) 4845 Target Profit (Support level) TP1 4200 TP2 4025 TP 3875
MYX:FCPO1!Short
by happytrading96
Palm Oil Prices Back to the Range of 4700-5200 Again?Palm oil prices closed higher and back to the range of 4700-5200. Several Factors that make the palm oil prices back to the range of 4700-5200 as below: 1. Weakness in soybean oil after US raised proposal to scale back biofuel blending mandates 2. Shortage of Workers due to coronavirus pandemic & higher cost of recruitment as palm oil producers make changes in response to accusations of forced labour 3. Record high fertilizer prices 4. MPOB showed higher inventories offset by lower production and higher exports Technical view: 1. Doji formed after range trading between 4724-4949- signal market struggle for new direction 2. Harami indicates reversal signal 3. Stochastic level= remain bearish signs Suggestion Trade: Buying at support 4700; Stop Loss 4600; Target Profit 4950-5000 Selling at resistance 5000; Stop Loss 5200; Target Profit 4750-4800 Disclaimer: Trading Carries Risks. Happy Trading!! Cheers. ** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
MYX:FCPO1!
by happytrading96
FCPO TRADING : 311) downtrend and review of the previous gartleythis 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 downtrend. As for the bearish gartley pattern in the precious episode, it missed the entry 5070 by juz 1 point, rollover frm 5069 and fell all the way to form lower-highs and lower-lows. It hits 1st tp at 4850 multiple times and 2nd tp at 4755 on 29th nov 2021. Next supports are at 4560-4480. Now, the price is hanging loosely ranging frm 4660-4680, slightly lower than the formation of leg A at 4708. Next resistance level to watch are 4755, and 4850. *plan your trade and trade your plan... gud luck* resistance : 4755, 4850 support : 4560, 4480 WARNING! RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING . It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
MYX:FCPO1!Short
by HAIDOJO_trading
Palm Oil Breaking Ranging level 4700-5220?Palm Oil market has been ranging for the past few weeks: Reasons behind as below: 1. Rising in new COVID-19 cases in Europe (- export demand= price drop) 2. Weakness in Crude Oil and Soybean Oil (- demand= price drop) 3. Weather concerns (- supply = price up) 4. Labor shortage (- supply = price up) 5. RM weakening (+ demand = price up) Technical View: 1. Strong resistance level at 5000 2. Stochastic at Overbought level, K% & D% line cross down (Sell sign) Suggestion Trade: Short Stop Loss (Resistance level) 5220 Target Profit (Support level) 4650, 4500, 4385-4400 Happy Trading!! Cheers. ** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK
MYX:FCPO1!Short
by happytrading96
1
When will FCPO STOP Ranging 4750-5220?Palm oil markets has been ranging between 4750-5220 since Oct 2021, topics remained hot within the palm oil industry including 1. labor force shortage, 2. global supply and demand concerns amid resurgence in COVID-19 cases especially in Europe. Uncertainty in 3. related edible oil due to weather concerns and 4. OPEC+ decisions to maintains its output which continued to serve support in palm oil industry. Furthermore, 5. dollar strengthened helped to made palm oil prices more attractive compare to other vegetables oils. Palm oil market likely to continue maintain its ranging until weightage in issues mentioned above showed unbalance. Trading Strategies remained neutral, or you may initiate ranging trading strategies. Long when near support 4750-4850 Short when near resistance 5100- 5220 Good Luck & Happy Trading. Cheers
MYX:FCPO1!
by happytrading96
FCPO TRADING : 308) a possible bearish gartley pattern 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 tug-of-war and the market price refused to fall. Then it is the sideway market then. This is an absolute disadvantage to me. As the saying goes, "consolidation breeds advanced patterns". SO, here we are now, with a possible bearish gartley pattern. Before the price could advance back into the selling zone of 5070-5085, SL can be make 10-20pts abv that, there is a wall of barrier that might kill the beast before it is reaching for the target. The resistance zone from 4970-5040. This trade if valid is very fruitful as the 1st tp could be seen at 4850 and 2nd tp at 4750. Advanced patterns traders could look out for this. *plan your trade and trade your plan... gud luck* bearish gartley resistance : 5070-5085 (kill zone) resistance : 4970-5040 support : 4750-4850 (bull validity is here) WARNING! RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures , cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING . It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
MYX:FCPO1!Short
by HAIDOJO_trading
2
Palm Oil Marching towards 5220 ???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 5220 if unable to break resistance level, double top may form and led to another selling trend. Good Luck and Happy Trading~ Cheers
MYX:FCPO1!Long
by happytrading96
FCPO TRADING : 306) bracketing the market and potential reversethis 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 trading day, we could see a false breakout formed on thursday and a huge gap down on friday...it is not looking gud for the bull but the resistance is still at 5040 while the support is at 4844 - 4750...IF the price moves abv the 5040 level, THEN we can look for long on the bullish ride. IF the price moves lower than the 4750, THEN we could short on the bear grip. what IF the price locks somewhere in between? for me, I shall do absolutely nothg...well, that's my plan...bcox market is moving sideway...sideway is no gud for me... ok, folks. that's all for tdy...I try to update more often but really, duty calls...and it sucks... *plan your trade and trade your plan... gud luck* resistance : 5040-5220 support : 4750-4840 (bull validity is here) WARNING! RISK DISCLAIMER : this is juz a trading idea...trading stocks, futures, cryptos, warrants, CFDs, spreads, options or forex might incur a huge risk to your account/funds… DON’T LOSE MONEY THAT YOU CANNOT AFFORD …any idea(s) of trading in this episode SHALL NOT be regarded as a hint of BUYING or SELLING . It is MERELY a trading journal and it has been used for educational purpose only… trade at your own risk!
MYX:FCPO1!
by HAIDOJO_trading
FCPO Another Re-accumulation towards RM5480Happy Deepavali to all Hindu fellows... This is UCL Posting :D 1. The last accumulation hit our conservative TP and currently making a new re-accumulation phase with a triangle pattern. 2. If the price can close above 5090 there is a chance the price will continue the uptrend 3. or else possible downwards movement to form spring formation. 4. Notice massive selling volume on 2 Nov might indicate seller close all their position to enter buy. 5. Price do make higher high.
MYX:FCPO1!Long
by ArifHasbollah
FCPO Weekly View: maintain ranging between 4750-5250Palm 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 Stochastic shows signs of uptrend reversed, as well as a shooting star candle formed at the resistance threshold at 5300.
MYX:FCPO1!
by happytrading96