FCPO - MARKET HAS DETERMINED DOWNTURNPLEASE REFER CHART
Market has ready to turn BIG BEARISH but yet under influence of NEWS!
Please be ready to watch all key level!
CPO1! trade ideas
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
FCPO is Doing Flip flop bullishPrice yesterday close is very extreme pullback.
So, price today will back to back and bring new hight till the week end.
But beware it could flip back downward after reach the high as shown at chart.
FCPO Engulfing DailyBearish Engulfing At Daily
I'm expecting pullbck because of shooting start at weekly
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!
FCPO 16/11 ideaPossible situation here.
if it break the second higher blue rectangle. trend continue Bullish.
just my2cents analysis.
lets see what will happen.
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
Will Palm Oil Back to 5000?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 entry with immediate resistance level at 5100 and immediate support level at 4800.
Bullish Daily FCPOFCPO still uptrend on daily chart. This is based on Andrew Pitchfork drawing and trendline.
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!
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.
FCPO Comes to BIG Correction ?Hi there, its been awhile since my last published.
This is what i found for Futures Crude Palm Oil (FCPO) Bursa Malaysia Derivatives.
Alternation + Channelling in Corrective Waves
Channelling through corrective waves (by the rule of alternation, it is entering wave C in expectation of complex/sharp correction since wave B was in regular triple flat WXYXZ)
With maximum expectation of wave C 161.8% at 4649
Well, this is only the ideas and please do trade at your own risk.
Palm Oil Ranging Between 4800-5100Palm oil range lower as market remained cautious ahead of export data and MPOB data release.
However stronger rival oils and global supply concerns remained support.
Palm oil range: 4800-5100
Stochastic level at 50.00 indicates market direction remain uncertain.
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.
High Prices Capped Upside, Lower Stock Limited Downside FCPOPalm oil prices remained strong due to rising in export demand while labor shortage, lower productions and inventories issues remained.
Palm oil market major trend remained UP.
However, near term likely to move within the range of 4950 (support) -5250 (resistance).
Strategies to apply:
Long when near Support level
Short when near Resistance level
With smallest stop loss apply until market break the ranging box.
Palm Oil Struggling to Maintain Up Slope?Palm oil candlestick range getting smaller, selling force seems standby-ing to short the market.
Despite tons of tight supply reasons persisted, that supporting palm oil, including related edible oil gains, labor shortage due to pandemic led to lower production.
Immediate resistance level at 5250, while stochastic indicator shows buying strength weakening.
Moreover, traders awaited ahead of announcement from Malaysia Budget 2022.
to conclude that, intraday trading plan with ranging strategy, buy at support, sell at resistance.
Can FCPO Malaysia Palm Oil Sustain Above 4700?palm oil deep fall on last Thurs, yet on Friday palm oil prices bounced back from the weakness as tightness in palm oil supply remained support.
Another factor could be the next focus, that is weather concerns. La Nina is expected by the 2nd straight winter, hit soybean means hit soybean oil as well.
Highly expected retracement in palm oil may not last long despite China and India might strengthen regulation on speculative activities.
which level should we watch out??
the nearest support at 4700, which is the level Friday hit and bounce.
once broken 4700, means small correction in short term. Market likely to test support level at 4500 before it resume its uptrend.
In summary, overall remain bullish view for palm oil market.
FCPO short to 4550a ripple formed at 15 minute time frame in the nick of mass retracement yesterday. find short entry with stop loss above 4950.
Is Malaysia Palm Oil Futures Having Divergence?? candlesticks formed long black bar ( bearish engulfing ) at resistance level .
Besides, MACD starting to cross down, signaled downtrend started.
We shall see FCPO decline in coming days.
Traders may take this opportunity to short in market with stop loss at the high of 5220.
-market extended gains closed at record high as Oct export data improved amid lacklustre production
-market likely to move higher if market stays above 5070; target market range 5065-5245
-support level:
S1 5025 S2 4978 S3 4931
-resistance level:
R1 5100 R2 5147 R3 5194
-yesterday daily settlement: 5071
mid: 5022
strategy 1: Long if stay above 5100
tg stop 5053
tg exit 5147-5241
strategy 2: Short if stay below 4945
tg stop 4992
tg exit 4804-4898
FCPO 18 Oct 2021 : Re-entry EMA14 & Bullish pennant1. Setup : EMA14>EMA50 = Uptrend
2. Signal: Re-test EMA14
3. Confirmation : 5min bullish engulfing + Bullish pennant pattern
4. Entry : at the low side of pennant triangle
5. SL : 10 tick below signal CS
6. TP : fibo extension 100% / until reversal CS
Price near resistance but not retest yet the highest level.
Risky setup possible price go down.
FCPO 14 Oct 2021 : Break EMA50 and price sideway1. Yesterday price able to make a new ATH with a valid breakout
Trading Plan :
1. Setup : Price cross EMA50 indicates price might be downtrend or sideway.
2. Signal : Rejection @ 15min
3. Confirmation: Bullish engulfing
4. Entry: 50% of bullish engulfing
6. SL: 10tick below recent rejection
7. TP is subjective
