Events to watch out this week (Msia Time)
Every 10th biz day of month, Malaysia Palm Oil Board’s Palm Oil stocks data. Expect some price volatility for FCPO. Take good care of your trades.

Every 10th, 15th, 20th, 25th and last biz day of month, ITS & SGS Palm Oil export data. Expect some price volatility for FCPO. Take good care of your trades.

FKLI

FKLI market structure is still in Bullish Market. This means the market has a high chance of trending higher in long run. Specifically, FKLI will start an uptrend if prices breaks above 1,793 and EMA8-13 golden cross. Support for risk management will be 1,784, meaning, if prices below 1,784, FKLI will go for a healthy correction.

First uptrend target will be 1,805 while second uptrend target is 1,815.

FKLI will only start a downtrend if prices below 1,784 and EMA8-13 deadly cross.

First downtrend target will be 1,778 while second downtrend target 1,770. Resistance for risk management will be 1,793.

FCPO

FCPO market structure is downtrend, which means the world benchmark for palm oil prices has a high chance of trending lower. In addition, EMA8-13 also showing a downtrend signal. First downtrend target will be 2,400 while second downtrend target is 2,350. Resistance for risk management will be 2,500.

FCPO will only start an uptrend if prices above 2,500 and EMA8-13 forms a golden cross. If that happen, uptrend targets are 2,551 and 2,680 respectively. Support for risk management will be 2,500.

DISCLAIMER

The information contained in this article is for reference only. No individual financial goals & risk appetite have been taken into account. Futures trading involve high risks.

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