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Fcpolong

FCPO Crude Palm OilBullish is trying very hard to push against its 5 & 15 min resistance. Bullish volume in the 1HR chart seems to be working too hard with a little too less, or I can say a formation of Doji. However, the price just closed above the resistance, we will be looking closely at the next candle reaction, whether the bullish is getting weaker or stronger. Here some tip, if the bearish candle goes down easily closing below its support area + with little effort in the volume, then you know that bearish is stronger than the bullish. Again, nothing is clear now, Price is tight right now between various numbers of EMA. Waiting for the "kettle" to reach its final temperature before bursting out to the upside or downside. If it goes up, we can see it will go up to 4300 area or even better, closing the gap. If it goes down, I believe that it will still not going too far, probably will retest again at 4080 area, but hey, money is money. Good Luck.
MYX:FCPOV2021
by AMianz
Sept20 - CPO (1M) - New Bull Cycle if Stays Above R@2.8-3.1kI just did a long-term analysis on Bitcoin, which yielded a similar outcome -- long term Bull Cycle. Fundamentally, I'm suspecting this is a signal for what's likely to come next -> High-Inflation or Hyper-inflationary era due to overprinting of USD (global reserve currency), which is typically marked by inflated food/soft commodity prices , & a capital flight to alternative store of value . Back to CPO, we've been in the WXY (Elliott pattern) or triangle consolidation phase for over 10yrs, since 2009 sub-prime plunge. Post-COVID bounce does seem to be taking an impulse 5-wave form so far, suggesting a potential wave1 of new Bull trend, for as long as price stays above 2800-3100+ R-zone. Successful standing above Major R1: ~2.8-3.1k, on the next test, will mark the end of long term consolidation. Happy Hunting! 🥂🚀 -jk-
MYX:FCPO1!Long
by jeanne_k