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FUPO1!
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USD Crude Palm Oil Futures

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FUPO1! trade ideas

FCPO Week 22 2024: Consolidation mode continuing?Expecting another week of consolidation. Would really like to see price to move lower to the range support and bounce higher from there and perhaps even higher to close above the range resistance. Another week of wait and see.

by edramlan

RESULT ON FCPO ANALYSIS FOR 21 AND 23 MAY 2024 Here are the explanations and results of the analyses conducted on May 21 and May 23, 2024.

11:50

by vinnhaziq

FCPO WEEK 21 2024 -Neutral for the start of the week.Price has been in consolidation mode for at least 2 weeks. Good trading weeks for range traders but definitely not good for trend traders. Will be looking for further price action early next week to further determine the direction. Price needs to close either above or lower of the resistance or support level. Overall view is still bearish based upon how aggressive the price push lower from the neckline. However a retracement higher towards the neckline is welcome for another meaningful move lower. It will also provide opportunity to go short with a much better pricing. So early next week is definitely a wait and see mode before deciding to take any trade. ✌🏼💰💵

by edramlan

Updated

looking for longs waiting to make a new low before entering long entry 3710. stoploss 30 ticks TP : 4600

Long

by najaatsabri

FCPO Week 20 2024 - Bearish.FCPO retraced but didn't go as far as expected. It's showing a bearish price action since middle of the week. For next week it is expected that bearish price action to continue. Shorting it will target the area of 3745 and 3721 as potential TP.

Short

by edramlan

Fcpo going down Fcpo will continue going down at the next week ...............mm..

Short

by konghaujin1993520

Fcpo history copy and paste Fcpo will continue going down at the next week . The trend is start and it won't stop easily . Oil palm cant stay at high price .

Short

by konghaujin1993520

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.

Long

by edramlan

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.

Long

by edramlan

Updated

WAITING FOR BULLISH MOMENTUM TO WEAK AT WATCHING ZONE For FCPO, I anticipated that the current movement might react to the identified Fair Value Gap sell zone. Thus, as an initial confirmation, the expectation for the current bullish movement to be offset by a bearish movement must occur. You should be aware that a Bullish Candle movement can only be negated by a Bearish Candle, and vice versa. Hope this helps. Don't forget to follow.

04:09

by vinnhaziq

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.

by edramlan

FCPO Outlook 4/20 This is more to swing Wait for reaction at 50% level. If price close above 4040 probably trend will change and can look forward to long after breakout reversal. If breakout do occur, expect price go to HnS/QM Level based on Fibonacci Level.

Long

by Izzu_H

(FCPO) Palm oil slips to over two-week low on subdued demand -Malaysian palm oil futures fell on Monday to their lowest closing in over two weeks, weighed down by lacklustre global demand and weaker crude as traders shrugged off data indicating tightening inventories. -Market got some support from the resumption of Chinese palm oil buying on Friday but other destinations were lacking charm.

Short

by Khairil_Anuar

Palm extends gains on hot weather, ahead of Eid holiday - FCPO Malaysian palm oil futures rose for the third straight session on Wednesday, due to a shortage after a slowdown in production during Ramadan, topped with hot weather over the past weeks. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange rose 84 ringgit, or 1.95%, to 4,396 ringgit ($926) a metric ton, by the midday break. The futures is strong due to the coming Eid holiday. The Ramadan month provides a slowdown in production plus hot weather over the past weeks has resulted in lower yield, so there is a shortage of palm oils in the market at the moment. The soyoil contract on the Dalian Commodity Exchange gained 0.79%, while its palm oil contract was up 2.48%. Soyoil prices on the Chicago Board of Trade were up 0.31%. Palm oil is affected by price movements in related oils as they compete for a share of the global vegetable oils market. India's palm oil imports hit a ten-month low in March to 481,000 tons, as the top vegetable oil buyer increased sunflower oil imports amid lower prices.

Long

by Khairil_Anuar

Updated

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.

Short

by edramlan

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.

by edramlan

MULTIPLE SUPPORT BROKEN + FVG FORMATION Multiple support levels have been breached, accompanied by the formation of a FVG (Fair Value Gap) pattern, along with the appearance of a Double Maru Sell signal. Consequently, we anticipate the price to likely retest the Resistance level before initiating a downward movement. Furthermore, a reversal signal has been identified in the candlestick pattern, indicating the beginning of a descent.

Short

02:50

by vinnhaziq

TRIANGLE PATTERN BREAKOUT + DOUBLE MARU The chart clearly shows a Triangle Pattern Breakout, accompanied by the formation of an Inverse pattern, confirming the movement, along with the emergence of a Lower Low chart pattern. Therefore, traders should seize opportunities when the price retraces to the inverse zone or potentially around the area where support becomes resistance.

Short

03:05

by vinnhaziq

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

Long

by phillip_nova

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.

Long

by edramlan

Updated

FCPO Spread FCPOK-FCPON2024 attempt to breakout FCPO SPREAD Contract May2024 vs July2024 is attempting breakout from previous swing high 141 Spread Bullish MA Lineup -> Trending Up Breaks and close above Turtle Resistant 138 -> Bullish Upward Momentum -> Bullish Support 124 Next target levels 165 179 203

by kgiap123

Updated

FCPO IS MOVING IN A DOWNTREND CHANNEL Observing the FCPO, it's evident that the price is presently following a downward trend within a channel. The recent support level, previously at 4240, has now been breached and is acting as resistance. The question arises: will this level continue to exert significant influence in holding the price?

Short

by vinnhaziq

Updated

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.

Short

by edramlan

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