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.

21 June, 10.30pm, Weekly Crude Oil Inventories. Expect some price volatility for WTI Crude Oil. Take good care of your trades.

Video Version:

Text Version:

FKLI

I mentioned in my last week's outlook, that if prices were to break above 1,793, I believe FKLI will start an uptrend and swing higher. True enough, on Friday, prices broke above the upper 1793 resistance zone. Based on this latest info, I believe FKLI will start an uptrend. In addition, EMA8-13 also shows an uptrend. First uptrend target will be 1,805 while second uptrend target will be 1,815. Support for risk management will be 1,783. Meaning, if prices were to break 1783, I believe the sellers will come back to the market and thus invalidate my uptrend analysis.

FCPO

It is still early to say the market is bottoming. As a more professional way to hunt for long trades, it is best to wait for prices to stay above 2,500 zone and EMA8-13 forms a golden cross. If that happen, first uptrend target will be 2,586 while second uptrend target will be 2,686 zone. Support for risk management will be the 2,500 zone.

Shorting the market would be much straightforward and in-line with the current dominant downtrend structure. Specifically, as long as prices below 2,500 and EMA8-13 still in a state of golden cross, I believe FCPO will continue to trend lower in-line with the current dominant trend. Naturally, 2,500 will be our risk management zone. First downtrend target will be 2,400 while second downtrend target will be 2,350.

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.

Learn our Advance Trading Strategies Here!

Our Facebook Page!