FCPO Week 19 2024 - Retracement higher?FCPO is consolidating. It is bearish however some retracement is expected. A retracement would perhaps target the 3945 to 3965 area though there is a few resistance that price need to overcome.
Fcpo!
FCPO Week 17 2024 - Bearish?FCPO might have shifted bearish. However for next week, there is a possibility that it might bounce higher. Price is expected to target 4090 area and possibly higher above 4100 area. From there it is expected that price to continue lower depending on the price action next week.
FCPO Week 17 2024 - Going lower?FCPO looks heavy. The drop might not ended yet but there might be a retracement higher. At this current level standing aside might be a good idea. Monday price action might be a good indicator on where price will go this week. Stand aside for now until new signal emerges.
FCPO Week 16 2024 - Further retracement.A further retracement lower is still in play. A reversal on Friday may turn out to be only a manipulation. The move higher might only be to fill up the gap at 4300 area before continuing lower. 4200 is the area where price should be next week. Expecting a consolidation in this area before the next move higher. Overall still bullish until proven otherwise.
FCPO Week 15 2024 - Pullback and then higher?Still with a view that a further retracement is possible to the 4280 area. However the overall theme is still bullish. Depending on volatility, the price might consolidate at this area before going higher.
Green Bull Flag in FCPO From a technical standpoint, prices have consolidated into a bull flag consolidation pattern since 14 March, breaking out of the flag resistance (orange trend channel) yesterday, albeit with normal volume. This localised breakout coupled with the breakout of the long-term parabolic bowl accumulation pattern at 4,150, a pattern forming since July 2023, signalled a possible continuation of the bullish climb to retest 4350 levels.
Fibonacci retracements can be seen respected at 61%, 50% and 38% respectively. Immediate support is foreseen around the 4,200 levels, a zone created from a combination of both 50% fibo and the high from previous surge – green line support.
Sustained prices above the bull flag pattern for the next two days are likely to drive further upward movement, aiming to breach the 4,350 level and potentially reaching 4,500 levels. This upward momentum may be fueled by short liquidations and breakout buys. Conversely, a drop below the 4,150 level could prompt a retreat towards the crucial support level of 4,000.
Regarding correlated edible oils, technical indicators for CBOT soyoil futures indicate a bullish divergence, with prices rebounding noticeably from recent lows. The trajectory suggests a continuation of the bullish trend following a retracement to the 47-48 cents per pound levels last week.
Trading Idea:
Entry: Long 2 lots FCPO @ 4230
SL: 4190
TP: 1 lot @ 4330 ; another @ 4480
- Darren, Phillip Nova Analyst
FCPO Week 14 2024 - ready to go higher?I think FCPO has found a support last Friday. Price failed to continue lower instead there is a strong push to the upside. It is also align with the support area created in March. A push higher will probably target 4244. Once the resistance line have been breached then 4280 should be a new target.
FCPO week 13 - retracement lower?Last week bull failed to take full control. At the current level, the price looks a bit heavy and there is a bear push lower. It is 50:50 at this moment but the likelihood of another run higher might not happen next week. Anyhow a retracement lower is likely before another run higher. 4030 area is a target next week and price might consolidate after that. At this area a push lower is also a possibility so need to wait on the price action.
FCPO Week 12 2024 - bull taking control.FCPO is making a push higher. Still with bullish view unless shown otherwise. As price didn’t go in a straight line, it is expected that it might retrace a bit towards 4200 area (this is also the area to look for entry to go LONG) to fill up the gap before making another bullish push. If this happens next week, then another leg higher should target the previous high and eventually target the 4425 area.
FCPO in uptrend channellooks like the price is following the uptrend channel.
i'm trying to follow the price using elliott wave and abcd pattern.
FCPO Week 11 2024 - Retracement expected?The price is still bullish however some retracement is expected before a run higher. Expecting that this week it will make retracement towards 3995 area. Depending on the price action, another bullish push towards 4208 area before a quick run towards 4250 area (which might not happen so quickly).
FCPO - LONG to target 4247.FCPO is to go higher. Strong bullish push towards a target of 4247 to its way to a higher target of 4425.
FCPO Week 10 2024 - Ready to rocket?At the current price going LONG might be a good idea. Initial target should be around 4035. Expecting a bit of retracement after that before another run higher.
FCPO Week 9 2024 - Still bearish.FCPO is coiling. Price is almost stalling last week. It goes up one day and then it got taken out the next day. So at the end of the week it is more or less moving no where. It might do the same next week within the flag formation. Still with bearish view for price to move to 3720 area which might be the support area before price eventually moving higher. The bullish view will come into picture if price move and close above the flag resistance area.
FCPO Week 8 2024 - BEARISH to target 3721 area.FCPO might see a bearish price action next week. Probably before that there might be a retracement higher toward 3875 area before the move lower to target 3721.
FCPO Week 7 2024 - target 3815 area.After going higher the price closed lower at the end of the trading day. It createed a high wick which indicate that there is still possibility that price is going lower. Based on this for Week 7, price might see a movement lower towards at least 3815 area. Will need to see the price action at this level to see if price wanted to go higher.
FCPO to go higher?At the current level FCPO might have found support. Price is now ready to go higher. Immediate target is the previous high. There might be a bit of retracement before it should resume higher toward 4245 area.
FCPO aiming for 3750 area.There is no signal yet for the end of the retracement. Short term target is the 3750-3740 area. Price will likely consolidate a bit in this area. Bullish camp might want to wait for bullish price action in this area before jumping in. Good luck!
FCPO bullish.FCPO is bullish however whether it will continue bullish will depends on the price action at the start of next week. It might push back towards 3870 area before making another push higher to the 4240 area.
FCPO outlook.Short term FCPO is bullish. The immidiate target is 4043 area. Consolidation is expected and price might move down to 3800 area before resuming higher with a potential target of 4200 area.
AAPL awaiting breakout to next supply areaNASDAQ:AAPL consolidating tightly. Awaiting the next breakout to around $195 supply area.
Potentially looking at new highs after that.
These are my views and analysis and is only used for educational purposes. I am not a financial advisor.
Nothing in the information posted here is intended to be or should be interpreted as trading advice.
FCPO1! - 29 SEPT 2023This analysis was made for training/educational purpose only.
Shall you follow or not **Trade At Your Own Risk**
FCPO1! - 22 SEPT 2023This analysis was made for educational purpose only.
Shall you follow or not **Trade At Your Own Risk**
