FKLI & FCPO Video Version:

https://www.youtube.com/watch?v=zEfHwd3o98Q&t=8s

Text Version:

FKLI

This is the FKLI daily chart. Continuing where we left off in last week's video analysis, I mentioned 1) FKLI formed a bear trap, 2) EMA8-13 must form a golden cross and 3) prices need to stay above 1,765 in order for FKLI to start an uptrend. 

 

FKLI last week did have these 3 clues and eventually went up to a weekly high of 1,774, before closing at 1,767.5. We trend followers had a decent trade when market broke out of 1,765. Now the index is at a critical junction: if prices broke below 1,765 and market forming lower lows, it will form a head & shoulders pattern, which is a downtrend signal. If this happen, the index could drop to first target of 1,756, second target at 1,749. Risk management will be 1,765 zone. 
 

On the other hand, if FKLI managed to stay above 1,765 and started ticking upwards, I believe it will resume its uptrend. First uptrend target will be 1,782 while second uptrend target is 1,800. Risk management will be the 1,765. For this week, we will still be using the “if this happen, then I will do this” method. The simplest method is the best because it helps me remove any bias and thus able to follow profitable trends the market throws at me. That’s certainly been my experience since I began trading FKLI, FCPO & Forex.

 

FCPO

FKLI, FCPO & Forex 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.

1 Aug 12.30pm, RBA (Australia) Interest Rate Decision. Market is forecasting 1.5% rate. Expect price volatility for AUD currency pairs. Take good care of your trades.

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

3 Aug, 7pm, BoE (UK) Interest Rate Decision. Market is forecasting a 0.25% rate. Expect price volatility for GBP currency pairs. 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!