FCPO continue 6400 or Short Term Correction?FCPO set their biggest weekly gains in more than 9 months despite a sharp drop on Friday, as Russia’s attack on Ukraine stoked worries about global edible oil supply.
I believe who traded last week hopefully you were enjoy the roller coaster ride in the market.
For your information, Ukraine is a major key supplier of grains and oilseeds globally, any further threats to trade will shift demand for other vegetable oil such as SBO and CPO.
As we all knew that the unresolved Ukraine crisis may further erode the supply of vegetable oil, grains, crude and natural gas due to the grain flows disruption in Black Sea export region with all transportation avenue were disrupted by military operation.
Besides, India stopped buying sunflower oil following ports suspended operation on Russia’s invasion of Ukraine. India pivot to alternate oils could further support Malaysian palm oil and US soyoil.
On the other hand, surging in COVID cases also keep palm oil prices elevated for 1H2022 as shortage of labour and supplies.
Furthermore, worsening yields in Argentina and Brazil pushed importers to buy from alternative supplier.
Technical View:
Market uptrend remains with immediate support at 5825.
Stochastic K% line is crossing down at overbought zone in both weekly and daily chart which indicates reversal signal
We expect market may have short term retracement with immediate support level at 5625
Suggestion Trade:
Short if stay below 5885
Target Stop Loss (resistance level) 6023
Target Profit level (support level)
TP1 5747 TP2 5471
Long if stay above 6200
Target Stop Loss (support level) 6062
Target Profit level (resistance level)
TP1 6338 TP2 6614
** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **
Indonesia
INKP: BROADENING BULLISH IN PULP & PAPER INDUSTRYHello traders,
Here's the roadmap of Indonesia Stock INKP
- INKP Has Broken Descending Broadening Wedge Pattern
- Trend Transitioning Indicated by Higher Highs and Higher Lows
- MACD crossed over from below 0, showing potential momentum change
Enjoy!
The roadmap will be invalid after exceeding the support/target level
*DISCLAIMER:
This isn't a recommendation to buy or sell, only an Outlook from technical perspective.
CRUDE OIL (WTI) - Corrected First Before Next RallyI found that Elliott Wave has not finish to form the 5th wave. But, the Expanded Triangle getting confirm to look for some correction wave. Therefore, I see some correction move first for potential 4th Wave, and after that we can see the bulls resume the trend for %th Wave It probably Needs 2-3 months ahead to get to the target of 5th wave.
I will wait around $62 - $64 area or better price at $55 - $57 for Buy on dip for the risk at $42-$45, and reward at around $89 - $94
IHSG / IDX Correction prediction !So after breaking new ATH recently, IDX currently has formed Rising wedge which means it gonna dip for a while.
The nearest support is 6500 area, if it bounce from here we can be sure that IDX will reach new ATH on January 2022
during Window Dressing, Santa Claus rally, and January Effect.
But it can broke down to 6375 level or even 6150 level.
As long as 50 EMA still above 200 EMA we will gonna be bullish for a moment.
Stay safe, Invest wisely! be cautious.
If you like this please drop a like and give it a follow !
Feel free to post your opinion on the comment section!
Stay strong Indonesian Brother!
Bearish scenario, an IDX analysis we don't want to see IDX looks good on daily timeframe but the probability of a fake break out on monthly timeframe is so quiet concerning. In order to stay bullish on IDX, the last point of support should not be broken down. The bearish scenario invalidation if a monthly close above 6755 and break out of pink resistance. The Yellow line is conservative bearish outlook and the Red line is aggressive bearish scenario.
Check on previous bullish analysis on 22/03/2021
DISCLAIMER ON
This analysis is not financial advice. Please note that you are responsible for your own investments. This chart only represents my opinion and view about the stock market in general and may be used only for educational purposes.
REEF/USDT BULLISH TREND SCENARIOREEF/USDT
Make HH twice, confirm REEF is bull trend
Dont miss it
REEF will EXPLODE SOON!
Please use my IDEAS for your SIGHT, do not copy 100% from my chart
Line on my chart is cluster and projection from the fibonacci
WOW TODAY WE MAKE 4 IDEAS
Im so happy can SHARE with you guys!!
Lets make profit together
#INDONESIA #tipsfortradingplanning
EOS/USDT TRADING PLANNING WITH PATTERNEOS/USDT
Look so clear with Triangle pattern
You can enter with breakout or now
Please research more from my IDEAS
I just give some outlook for you guys
Thanks you guys , CHEER!!
#indonesia #tipsfortradingplanning
IOST/USDT TRADING PLANNING FOR SPOTIOST/USDT
With short-term, from the trend and pattern will going up to TP area
I hope you guys get something from my ideas
BLUE : ENTRY AREA
RED : SL AREA
GREEN : AREA FOR TAKING PROFIT
Make it simple and stupid, will give you convenience
#indonesia #tipsfortradingplanning