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Fcpo

CPO Continue above 7000? Or Ready for Correction?FCPO declined by nearly 8% on last Friday and closed at 6276 as profit taking took place, but posted 2nd weekly gains after touched on historical high at 7108. So, what’s make palm oil now the costlier edible oil among the 4 major edible oils? Global commodities rallied following EU bans certain Russian banks from SWIFT bank payment system which aimed to stuttering the Russia economy and introduces further restrictions. The war expected to disrupt the processing and export of Ukraine oilseeds crops for at least 1 month and curb flow of sunflower seed to the European Union. 2. India’s reserve is facing a depletion in stocks levels with a lack of shipments of sunflower oil from the Black Sea Region. India requested Indonesia temporary reduce their biodiesel blending rules and increase the exports to mitigate disrupted supplies of sunflower oil. 3. Rising concerns on adequate palm supply levels for post-Ramadan restocking. While expectations of higher productions in coming months as high output cycle kicks in and government also announced new migrant workers to work in plantation sector capped gains. 4. Soybean oil prices closed lower as profit taking and rainfall in Brazil and Argentina eased dry weather conditions. Technical View: 1. Shooting star formed at resistance level of 7100, which indicates market losing uptrend momentum and also a reversal signal 2. Stochastic K% line is crossing down in both weekly and daily chart which indicates downtrend signal We expect market may have short term retracement with immediate support level at 5825 Suggestion Trade: Short if stay below 6200 Target Stop Loss (resistance level) 6365 Target Profit level (support level) TP1 6035 TP2 5705 Long if stay above 6800 Target Stop Loss (support level) 6635 Target Profit level (resistance level) TP1 6965 TP2 7295 **Disclaimer: Trading Carries Risks**
MYX:FCPO1!
by happytrading96
1
FCPO continue 6400 or Short Term Correction?FCPO set their biggest weekly gains in more than 9 months despite a sharp drop on Friday, as Russia’s attack on Ukraine stoked worries about global edible oil supply. I believe who traded last week hopefully you were enjoy the roller coaster ride in the market. For your information, Ukraine is a major key supplier of grains and oilseeds globally, any further threats to trade will shift demand for other vegetable oil such as SBO and CPO. As we all knew that the unresolved Ukraine crisis may further erode the supply of vegetable oil, grains, crude and natural gas due to the grain flows disruption in Black Sea export region with all transportation avenue were disrupted by military operation. Besides, India stopped buying sunflower oil following ports suspended operation on Russia’s invasion of Ukraine. India pivot to alternate oils could further support Malaysian palm oil and US soyoil. On the other hand, surging in COVID cases also keep palm oil prices elevated for 1H2022 as shortage of labour and supplies. Furthermore, worsening yields in Argentina and Brazil pushed importers to buy from alternative supplier. Technical View: Market uptrend remains with immediate support at 5825. Stochastic K% line is crossing down at overbought zone in both weekly and daily chart which indicates reversal signal We expect market may have short term retracement with immediate support level at 5625 Suggestion Trade: Short if stay below 5885 Target Stop Loss (resistance level) 6023 Target Profit level (support level) TP1 5747 TP2 5471 Long if stay above 6200 Target Stop Loss (support level) 6062 Target Profit level (resistance level) TP1 6338 TP2 6614 ** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
MYX:FCPO1!
by happytrading96
FCPO TRADING : 319) new era of 6kthis is haidojo and the number is 319 ... Yesterday, 24th Feb22 marked the darkest hour in history as Russia engaged a massive full-attack on Ukraine and this triggered fcpo-may to peak at its highest at 6470! The highest price ever in the history, so far. At the time as I wrote this, fcpo-may is facing a hard profit-taking activities and plunged into 6140 region ald...So, if I were to trade, I shall temporarily go for "short" after the event of war but fcpo-may is still in the uptrend for the medium to long-term. Until further support levels are broken. It is still unsure if the event of Russia-Ukraine war outbreak will contain in the North region only or the malicious arm of war conflicts would spread to other parts of the world if NATO or the allies seek retaliation. Thus, back to technical price, fcpo-may seeks the nearest support levels ranged frm 5980-6090, the next proceeding levels range frm 5700-5778 and the strong support and critical support range frm 5380-5500. See if those levels are broken, then we might have encountered some reversal of trend. That's all for the update today. *plan your trade and trade your plan... gud luck* resistance : 6340-6470 (NSH and also new historical high) support : 5980-6090 lower support : 5700-5778 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
Reversal Signs Continue in Palm Oil MarketFCPO closed higher at 5539 after gap filled at 5612 by last Friday but posted weekly losses. What were the factors that caused crude palm oil prices struggling to maintain above 5800? 1. India reduce farm infrastructure tax on CPO to 5%, which will effective until Sept 30, with the objective to increase gap between CPO and refined palm oil to benefit the domestic refining industry. 2. Uncertainties over Ukraine crisis lead market to stay vigilant on possible rising tensions. 3. Better production forecast for 1st half of Feb limited the upside of palm oil prices 4. Soybean Oil continue to move higher as concerns over weather forecast and fire incident broke in US biodiesel plant at Claypool, Indiana. Furthermore, India acquire massive purchase on soybean oil as high soybean price for local crushers to reduce output. 5. Crude Oil prices extended losses as prospects of extra supply from Iran. Weaker crude make palm less attractive option for biodiesel feedstock. 6. Near month spread widen as traders foresee East Malaysia production remains weak for Feb. Technical View: Market reversal signs remains. Gravestone doji formed in Daily Chart after market tried to move higher but sell down by the market. Stochastic K% line is crossing down at overbought zone in both weekly and daily chart We expect market may have short term retracement with immediate support level at 5350. Suggestion Trade: Short if stay below 5550 Target Stop Loss (resistance level) 5625 Target Profit (support level) TP1 5425 TP2 5345 TP 5245
MYX:FCPO1!Short
by happytrading96
Reversal Signs in Palm Oil Market?Market closed slightly higher at 5573 last Friday after tighter range move. Some key factors continue to weigh on palm oil prices: 1. Indonesia had expanded its export permit requirement for palm oil products where exporters must sell 20% of their exports at home and with price cap to other derivatives. This further raising fears of global supply disruptions. The regulation valid from Feb 15. 2. Latest Malaysia Palm Oil Board data showed lower inventories and production due to labor shortage and flooding; lower exports due to rising palm oil prices However, analysts’ expectations that current high price not sustainable 3. some participants expecting production to pick up in March as Malaysia Government targeting full scale reopening of international border 4. . Soybean oil continued uptrend, as LaNina brought in hot weather across key South America growing areas and strong demand on US soybean 5. Strong crude oil prices amid ongoing worries about supply disruptions from the Russia and Ukraine crisis Technical View: 1. Market uptrend paused with hanging man formed at resistance level of 5750, indicates reversal signal 2. Stochastic reached overbought level and K% line is crossing down which signalled reversal signal We expect market may have short term retracement if market unable to stay above 5500. Suggestion Trade: Short if stay below 5365 Target Stop Loss (resistance level) 5478 Target Profit (support level) TP1 5252 TP2 5026 Long if stay above 5685 Target Stop Loss (support level) 5572 Target Profit (resistance level) TP1 5798 TP2 6024
MYX:FCPO1!
by happytrading96
FCPO TRADING : 318) possible reversal but needs confirmationthis 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 again... IF it moves higher, THEN it will breaks the previous NSH and creates more NSH...THEN uptrend resumes. IF it moves lower, THEN it forms Lower-High (LH), and a possible reversal happens until the price breaks lower than the previous Higher-Low(HL). So, now juz sit back and relax. Wait for the price to tell us what to do. Till then, do absolutely nothing. That's all for the update today. *plan your trade and trade your plan... gud luck* resistance : 5700-5749 (current NSH) immediate support : 5440-5520 lower support : 5220 - 5360 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
Palm Oil Hit Historical High 5639Palm oil prices closed higher at 5628 after hit historical high at 5639. Factors continue to affect palm oil prices: 1. Indonesia finalize their export restriction plan which set 20% local supply rule for palm oil exporters effective from last Thursday (27 Jan 2022). Government also implement price cap on local sales of CPO and palm olein, effective from 1st Feb 2022. 2. Soybean oil stayed firm on Ukraine Crisis amid fears of potential supply disruption due to military action from Russia to Ukraine. 3. Traders selling in far months and shipments from India and China dropped likely to limit the upside of the market. Technical View: 1. Market remained bullish. 2. Stochastic reached overbought level We expect market may face some profit taking activities due to shortened week and thin trading volume. Suggestion Trade: Long if stay above 5625 Target Stop Loss (support level) 5400 Target Profit (resistance level) TP1 5725 TP2 5825
MYX:FCPO1!Long
by happytrading96
FTSE FCPO Palm Crude Oil Futures #FCPO #FCPO1!Palm Crude Oil Futures FCPO short-term still looking bullish. Profit Chip of PFT indicator at 38%, if surpass 50% greater chance to reach upper trend line resistance @5500 Bull Bear Energy (BBD) indicator show Dark Green bar turning into Light Green (momentum turns weak) - short term correction on way. #fcpo #fcpo1! #bursasaham #palmoilfutures #commodities #tradingfutures #ftseklci #technicalanalysis #technicalindicator #technicalchart #mcdx #bbd #trendline #chartpattern Disclaimer: This published Idea is solely for the purpose of opinion sharing only, and should not be used as investment advice or recommendation to buy or sell any security. Get your trade advise from a legit broker, your trade is solely your own responsibility. Thank you.
MYX:FCPO1!Long
by wayne3355
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