SINGAPORE (March 21): Palm oil is expected to test a resistance at RM2,190 per tonne, a break above which could lead to a gain to RM2,227.
The resistance is identified as the 38.2% retracement of the uptrend from RM1,940 to RM2,344. The next resistance will be at RM2,190, a break above which could open the way towards RM2,227, the 61.8% retracement of the downtrend from RM2,344 to RM2,038.
Support is at RM2,142, a break below which may cause a loss to RM2,094. On the daily chart, the bullish momentum seems to be strong, following a break above a resistance at RM2,144, the 100% projection level of a downtrend from RM2,896.
This momentum may drive the price to RM2,246, which is pointed by a falling trendline. Following its first failure to break the trendline on Feb 7, palm oil could be making its second attempt to test this line.
@spectre007.... 1.25 was previously the TP2 as prescribed and calculated by mambang sawit... now it has become the resistance... Once broken decisively, the price would surge higher...
If we tempurung why keep change govn? GE14 we give PH chance. Why Cameron we vote back BN? If got alternatives we will still change govn.
Banditos kiki settler angry. baca news takmau until dunno why palm oil down.. somemore politic still .. really katak bawah tempurung. 21/03/2019 11:02 AM
It needs to break the 1.31 resistance to form a "cup and handle" pattern. "The cup with handle is to serious investors in growth stocks what the single is to a baseball fan. It's the starting point for scoring runs and winning the investing game." ~ Investor's Business Daily
Banks getting hit this morning, probably on news that the US will not raise interest rates over the next 2 years, which raises the prospect of a possible rate cut domestically.
Bear in mind, however, that the sensitivity does not take into account the fact that CIMB and HL Bank recently raised their Base Rate by 10bps while BIMB raised its rate by 13bps. As such, if there is a cut, the overall impact is more muted than forecasted.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
icwf123
1 posts
Posted by icwf123 > 2019-03-21 09:53 | Report Abuse
Now still good to collect?