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FCPO, FKLI, S&P500, Soybean Oil Futures Market Outlook 1 to 5 April 2019
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Publish date: Mon, 01 Apr 2019, 08:39 AM
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Alright! Let's start with the weekly outlook.
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Emini S&P500
Last week I mentioned that a close above 2,820 will present an uptrend opportunity for us. The market right now is above 2,820. So going forward, I believe prices will have an uptrend. It will probably went up towards either 2,880 or even the historical high of 2,947.
However, you have to accept the fact that there is no 100% or guarantee outcome from the market. Anything can happen. That's why we have to plan for another side of coin, so we know how to respond without hesitation. We are here to trade & make money from the market, we are not here to become fortune teller. So if prices breaks below 2,791, sellers will be motivated to push prices further down. Prices would retrace back to 1st downtrend target 2,730 or even 2nd downtrend target 2,680 level.
FKLI
Prices stayed below 1,640 support and then attempted to break 1,650 before closing at 1,646 on Friday. Based on latest price action, FKLI is going to have an uptrend potential this week if buyers are strong enough to break this 1,650. Shall this scenario happen, we could look for buying opportunities to trade inline with this uptrend potential. This because we could see prices moving upwards to 1,664 structure. If buyers are still strong, we could potentially see prices retest next previous structure high of 1,688.
However, what should we do if the buyers failed to close 1,650? You can start looking for selling opportunities if prices break below 1,632. When market presents this opportunity, we can shoot for downtrend targets either at 1,621 or 1,610.
Soybean Oil
It's still in a bearish market because it's below the ema 200 days / 29.50 since middle of march. Prices also broken thru the 28.53 level we that discussed last week. So going forward, we could see prices resume it's downtrend and probability hitting either 28.16 or even 27.59.
However, you can look for buying opportunities when prices break above 29.50. It is because you can easily make money with a buy trade when the market is uptrend. Don't fight against the trend, you can't win, just follow the flows and make money from it. Shall the market close above 29.50, these are the uptrend targets we can shoot for: 30 structure or 30.60.
FCPO
Prices closed below 2,133 that we warned last week. And subsequently prices went down and closed at 2,103. Going forward, FCPO is on track to resume it's downtrend as long as it's below 2,109. First downtrend target is 2,070 while second downtrend target is the previous structure low of 2,040.
Based on latest price action, I only believe FCPO will start an uptrend if prices can stay above 2,126. Shall the market trigger this scenario, we can look for buying opportunities. First uptrend target is 2,184 first structure high. If buyers are still strong and broken this level, we can aim for second structure high of 2,217.
Alright! That's wraps up this week outlooks. If you are keen to have a good results, come and join us on our upcoming Penang event! See you soon.
Let’s work together
That concludes this week market analysis. Hope you guys can benefits from it. If you like to trade local or foreign futures under me and my team’s guidance, feel free to reach out to us here (Click here). We are looking forward to work together with you. Have a nice days.
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