FKLI & FCPO Weekly Outlook Youtube:

FKLI & FCPO Weekly Outlook Text:

FKLI

 

We had a good trade on FKLI last week when it triggered our uptrend signal that we discussed in last week's video and hit the 1,785 uptrend target. The markets then had a retracement towards the downside a little. Currently it is trading around 1,784-85 zone.

 

Hence going forward, this is how we will formulate our plan of attack for FKLI this week. Shall the prices manage to stay above 1,782, and prices forming higher highs & lows, we will be looking for buying opportunities to trade in line with the potential uptrend. First uptrend target will be the previous market structure high of 1,791. Second uptrend target will be the psychological resistance of 1,800. Risk management will be the 1,782 zone. Any prices that closed below 1,782 will tell us that the market is likely to reverse its trend towards the downside.

 

So when the market does trade below 1,782, prices forming lower highs and lows. It signals to us that FKLI likely to trend lower and we want to look for opportunities to trade in-line with the downtrend. For added confluence, and its optional, you can observe whether prices also trade below the EMA13. Downtrend targets are 1,775 and 1,760. Risk management is 1,782.

 

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FCPO

As correctly anticipated in last week's video, FCPO resumed its uptrend and hit a weekly high of 2,896. The market triggered our buy signal last week and we had a good trade on this uptrend as well. Now the latest price action is this: The market structure is uptrend, because as you can see, the market had higher highs and lows. As long as prices kept creating this price action and above 2,850, FCPO is likely to trend higher this week. Uptrend targets will be 2,900 and 2,950. Risk management is pegged at 2,850. 

 

On the other hand, shall prices dips below that 2,850 zone, there is a possibility that FCPO may had a slight downtrend towards the 2,800 zone. Another potential target is 2,750. Risk management is 2,850. 

 

FKLI & FCPO & Forex events to watch out this week (Msia Time). Take good care of your trades.

Every 10th biz day of month, Malaysia Palm Oil Board’s Palm Oil stocks data. Expect some price volatility for FCPO.

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

20 Sep, 10.30pm. Crude Oil Inventories. Previous inventory was 5.888M barrels. Expect price volatility for WTI Crude Oil, CAD currency pairs.

21 Sep, 2am. US FED Interest Rate Decision. Market is expecting FED to maintain 1.25% Expect price volatility for USD currency pairs.

21 Sep, 9.30pm, 22 Sep 4pm ECB president speaks. Expect some price volatility for EUR currency pairs.

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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