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USD Malaysian Crude Palm Oil Calendar Futures

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CPO1! trade ideas

FCPO Daily Analysis for 15 October 2024 - Market ReboundsToday’s FCPO market on 15 October 2024 demonstrated a strong recovery from previous lows, primarily driven by buying interest around key support levels and news regarding lower palm oil exports and global crude oil price hikes. Technical indicators on both the 1-hour and 5-minute charts show a potential shift towards bullish momentum, although the market may encounter some resistance near RM 4,300. For tomorrow’s session, traders should watch for any pullbacks toward the RM 4,220 level as a potential entry point for long positions, while also being cautious of resistance at RM 4,300 and RM 4,350. With global palm oil data and external market factors continuing to influence price movements, it’s essential to stay updated and agile. The FCPO market is always full of surprises, and today was no exception. Stay sharp, and let the charts guide your decisions!
MYX:FCPO1!Long
by AbuOthman2020
FCPO Daily Analysis for 14 October 2024 - Market Dynamics UnveilCombining H1 and 5-Minute Charts for Tomorrow’s Trading Plan Based on the technical analysis of both the H1 and 5-minute charts, the following conclusions and trading strategies can be drawn: Watch for a Breakout Above 4,400 (H1): A confirmed breakout above the 4,400 resistance level on the H1 chart could provide an opportunity for long positions, targeting 4,450 and possibly higher. The key is to wait for a strong bullish confirmation with accompanying volume. 4,240 Support Holds the Key (H1): Should the price fail to hold 4,240 on the H1 chart, a significant downside move could occur. Look for short opportunities with potential targets around 4,200 and possibly 4,160. Intraday Focus on 4,320 - 4,300 Zone (5-Minute Chart): On the 5-minute chart, the market is showing signs of exhaustion. If the 4,300 support holds in early trading tomorrow, a quick bounce toward 4,320 is likely. However, if 4,300 is broken, look for a potential move lower. RSI and Momentum Indicators: Keep an eye on the RSI for any signs of divergence or overbought/oversold conditions, as these could provide early warning signs for reversals.
MYX:FCPO1!Short
by AbuOthman2020
2
FCPO Weekly Analysis for Week 7-11 October. Prepare!The FCPO market for the week of 7-11 October demonstrated strong bullish momentum, with the price breaking key resistance levels and forming higher highs. The key levels to watch for the upcoming week are the resistance at 4,322 and the support at 4,200. Traders should look for breakouts or pullbacks to these levels as potential entry points. Utilizing tools such as RSI, moving averages, and volume analysis will help in confirming trades. With proper risk management and a solid trading strategy, traders can capitalize on the opportunities presented by the current market conditions.
MYX:FCPO1!Long
by AbuOthman2020
Next Target Predictions of FCPOTrend Indicators: Moving Averages: The chart appears to use a combination of shorter-term moving averages (possibly 5-period and 10-period moving averages), showing a recent downtrend after hitting the resistance level. Bollinger Bands: The price has moved outside the upper Bollinger Band earlier, indicating overbought conditions. The bands are still wide, showing increased volatility. Buy/Sell Signals: There are multiple "Sell" signals at recent highs, which coincide with the price nearing the resistance levels. There is a "Buy" signal at a lower level just below 4,240 MYR, indicating the potential for support around this level. Stochastic Oscillator: The stochastic indicator at the bottom shows the stochastic levels at 80.46 (overbought region), indicating a potential pullback in the near term. Next Target Predictions: Immediate Resistance: The price has tested the 4,283 MYR resistance level multiple times, and this will likely be the next key level to break. If the price can break and hold above 4,283 MYR, the next upward target could be around 4,300–4,320 MYR based on historical levels and round-number psychological resistance. Downward Support Target: If the price fails to break through the 4,283 MYR resistance, it could pull back towards the next support level around 4,240 MYR, with a deeper downside potential to around 4,120 MYR, which is the stronger support shown in the chart. Conclusion: Currently, the price is near a key resistance level of 4,283 MYR. If it can break this level, the next target is likely around 4,300 MYR. However, given the overbought signal in the stochastic oscillator, a pullback to around 4,240 MYR or even lower toward 4,120 MYR is also possible in the near term if the resistance holds.
MYX:FCPOV2024
by barakbest
Why Can Breakouts on Higher Timeframes Go Further?1. Significance of Support & Resistance: Support or resistance levels on higher timeframes are usually more important because they reflect prices that have been tested multiple times over a longer period. When the price successfully breaks through these levels, it signals a major change in the market. 2. Greater Confidence: Institutional traders and large investors often make decisions based on higher timeframes, so a breakout may be supported by larger trading volumes, providing more momentum. 3.Long-Term Trends: A breakout on a higher timeframe typically indicates the beginning of a long-term trend, meaning the price can move further in the breakout direction before a correction occurs. 4.Fewer False Signals: Higher timeframes tend to produce fewer false breakout signals compared to lower timeframes. This is because lower timeframes are more susceptible to short-term market "noise."
MYX:FCPOZ2024Short
by hafizthalatha86
FCPO: Retracement confirmIf the market closes with a red candle, confirming a retracement, execute a short position with the following plan: Cut Loss (CL): 4051 Take Profit 1 (TP1): 3950 Take Profit 2 (TP2): 3815 Take Profit 3 (TP3): 3740 Expect TP1 (3950) to be reached during the night session. If strong momentum persists, TP2 (3815) may be achieved within 2-3 days. A minor retracement might occur before the price descends to TP3 (3740), likely before Friday’s session close.
MYX:FCPOZ2024Short
by heromy
4
INSIDE BAR BREAKOUTToday's setup: I'm using the inside bar technique and the 20-period moving average, with a 1:2 risk-reward ratio. For traders who are just starting, you can use this technique for scalping or swing trading. It works even better when the inside bar candle is located in a support or resistance zone. However, always remember that every setup carries the risk of loss, so it's important to set Take Profit (TP) or Stop Loss (SL) levels for proper money management.
MYX:FCPOZ2024
by hafizthalatha86
FCPO Week 37 2024: BULLISH.The 4-hour chart indicates a strong upward price movement. An inverted head and shoulders pattern has emerged, with the price breaking above the neckline, marking the first wave of the move. This was followed by a brief consolidation phase, representing the second wave. Now, the price appears ready to resume its upward momentum, potentially forming the third wave. Watch for a breakout as this wave could push prices higher. A buy position may be considered, with a target price of 4018 for potential profit.
MYX:FCPO1!Long
by edramlan
4