FKLI & FCPO Outlook:

FKLI & FCPO Video Version:

https://www.youtube.com/watch?v=YIvezrwr8sg

Text Version:

FKLI

The latest dominant FKLI market structure is downtrend. This is because, when the buyers failed to sustain the markets above 1,790, the sellers quickly came in and created lower lows & highs for around 2 weeks and then started stagnant around here last week.

From my experience, I believe FKLI continue its downtrend this week. This is because the dominant market structure (lower lows & highs) tell us. So I don't want to fight the market yet by longing it so soon. Besides that, the daily EMA8-13 also showing downtrend signal. Hence first downtrend target will be 1,754 and second downtrend target will be 1,742. Risk management will be 1,770 zone, meaning if prices breaks above it, it will negate my downtrend analysis.

FCPO

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.

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

20 July, 7.45pm, European Central Bank deposit rate. Expect some price volatility for Euro currency pairs & Euro indexes. Take good care of your trades.