FKLI & FCPO Outlook:

FKLI & FCPO Video Version:

Text Version:

FKLI

 FKLI tried to broke out of 1,793-90 zone but however sellers quickly came in and pushed the market lower last week. Based on today's price action, I believe FKLI may trend lower. In addition, EMA 8-13 in the day chart formed a deadly cross. First downtrend target will be 1,761 zone while second downtrend target will be 1,752 zone. According to the chart above, a lot of sellers converged around the 1790 zone, so then 1,790 will be our risk management. If prices above 1,790, it will negate my downtrend analysis.

FCPO

As discussed in last week's video, it is still early to say the market is bottoming. A more professional way long this FCPO is to wait for prices to stay above 2,470 and EMA 8-13 in day chart forms a golden cross. If that happen, first uptrend target will be 2,516 while second uptrend target will be 2,555-51 zone. Support for risk management will be the 2,424 zone.

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.

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!