FCPO - Moving in Upward Channel
Updated
One the left chart, a upward channel was plotted in black. The channel develop since Jul and price did not move out from the 37 degree upward sloping lines since then.
Market is waiting 1-15 Sep Spooma data & export data to release on tomorrow on Monday to further speculation on inventory changes. The current price movement is expect to be sideway to down follow soyoil sentiment last night which trading near historical low. Dalian palm olein remain directionless and bias to downside.
Next projection target at 2213 if price below 2248.
Market is waiting 1-15 Sep Spooma data & export data to release on tomorrow on Monday to further speculation on inventory changes. The current price movement is expect to be sideway to down follow soyoil sentiment last night which trading near historical low. Dalian palm olein remain directionless and bias to downside.
Next projection target at 2213 if price below 2248.
Comment
Dalian Palm Olein is trading dropping almost 1% lower now. FCPO is expect to continue selling and reach initial projection 2213.Comment
Trader please monitor the latest SPPOMA data to be release on today.Trade closed: target reached
Below 2213, next target 2158.Comment
Reached projection target 2158Related publications
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