Crude Palm Oil FuturesPembelian
FCPO - Bear taking breath
After a series of 8th falling trading days, price of FCPO constructed a short term bullish AB=CD pattern in daily TF. It's been oversold but not in extreme way yet.
Current price is hovering around 5477 (the neck line of a bigger pattern) and may have a small rebound before a continuation.
May focus on the price action along with confirmation of oscillator especially the neck line region for a the 1st TP of 6070. If the price manage to piercing thru the red dash trendline, the 2nd TP would be 6512.
-Signing Out-
Current price is hovering around 5477 (the neck line of a bigger pattern) and may have a small rebound before a continuation.
May focus on the price action along with confirmation of oscillator especially the neck line region for a the 1st TP of 6070. If the price manage to piercing thru the red dash trendline, the 2nd TP would be 6512.
-Signing Out-
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