FKLI & FCPO Weekly Outlook Youtube(Click here)

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FKLI & FCPO Weekly Outlook Text:

Today's market outlook will be a bit different in terms of analysis because i received a few questions from traders telling me that they had a hard time trying to understand what the market is trying to tell them. And if you one of the many traders who are struggling, do not worry. We all been thru that in our trading journey. It's part of learning. So today I am going to use a simple concept which hopefully can help you make sense and most important help you understand what the market is trying to tell you.

The financial market is a battleground. Every market, FKLI or FCPO or Forex, you go, you will see there are buyers and sellers in a constant battle, fighting to take control of the market. In one corner, you have the buyers. When buyers won the battle, they will conquer the area previously held by the sellers, and then they will continue moving upwards towards the next area or castle hold by the sellers. When the buyers defeated the sellers again, they will continue move upwards. Hence you will see that once a resistance is broken, prices will continue move upwards. However, if the buyers are exhausted or lack in numbers, this means prices do not have momentum to move upwards and soon the sellers will win the battle and push prices down to the next level held by the buyers.

In short, these process repeat every single time when the market opens. When you see the market as a battleground, you will have a much clearer picture.

FKLI

First up its FKLI. Price is currently trading above this support zone of 1,730. Which means the buyers are in control of the market and naturally they are likely to move up north to attack the next sellers area, which is 1,740. If the sellers in that level is defeated, the buyers will continue to take prices up to the next area of 1,753. There are a few more key areas and strongholds held by the sellers around 1,761 and 1,770. So if we expect FKLI to have a strong rally towards the end of the year, the buyers armies need to defeat these areas.

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.

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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