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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
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
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
Can CPO Sustain Above 4500?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 Trade: Initial Short position Stop Loss at resistance level: 5000-5100 Target Profit level (support level) S1 4500 S2 4385-4400 S3 4200 Disclaimer: Trading Carries Risks. Happy Trading, Cheers.
MYX:FCPO1!Short
by happytrading96
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
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 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
FCPO 13 Sept 2021 : Reversal CS at Gann and Resistance Level1. Price rejection near the resistance + Gann level after upward movement 2. Trade bit risky because the price is able to break EMA14+EMA50. 3. Set sell limit order at the open of bearish rejection CS. 4. Stop loss order is 1 x ATR from 5min TF = 16tick from highest rejection CS. 5. Target profit is at the nearest support or when 15min have bullish reversal CS. Outlook : 1. Since price break EMA50 up and down area means the price will be consolidated for time being until break either support/resistance. 2. Trading range around 60~100tick.
MYX:FCPO1!
by ArifHasbollah