happytrading96

happytrading96

Technical View: Palm oil downtrend paused after tighter range move and inside bar formed, which indicates a reversal signal. Stochastic K% line showed mixed signals, as in daily chart, K% crossed down which indicates sell signal, while in weekly chart, K% line near to oversold level but K% remains crossed down which indicates market likely to further down before...

happytrading96

Palm oil extended losses and closed at 4664. Daily chart broken EMA200 line which indicates market closed in bear market territory. While Stochastic K% line showed mixed signals, as in weekly chart market remains in selling signal while in daily chart, K% line crossing up at oversold level which indicates market likely to have technical rebound. We expect market...

happytrading96

Palm oil extended losses and closed at 5454 with long black formed which indicates bearish signal. While Stochastic K% line both weekly and daily chart remained crossing down indicates downtrend signal. However, please take note that stochastic K% line in daily chart landed at oversold level as well as candlestick landed at the of Exponential Moving Average 200...

happytrading96

Short if stay below 5900 Target Stop Loss (resistance level) 6098 Target Profit level (support level) TP1 5702 TP2 5305 Long if stay above 6500 Target Stop Loss (support level) 6302 Target Profit level (resistance level) TP1 6698 TP2 7095 Disclaimer: Trading Carries Risks. Happy Trading!! Cheers. ** DISCLAIMER: FOR INFO ONLY. TRADING CARRIES RISK **

happytrading96

Technical View: market closed slightly higher after tighter range move with pin bar formed, which indicates market remained cautious on palm oil outlook While Stochastic K% line shows mixed signals, Daily chart showed K% line crossed up which indicates uptrend signal, but weekly chart remained in uncertain level at 47.58. We expect market likely to move higher...

happytrading96

Technical View: Market closed higher after reversed earlier session gains and formed bearish pin bar which indicates strong selling force in the market However, Stochastic K% line shows market trend uncertain with K% moving at 55 and 47 level in daily and weekly charts respectively. We expect market likely to move lower with immediate resistance level at...

happytrading96

Technical View: 1.Market extended losses after tighter range with doji formed 2.Stochastic K% line having mixed signal as weekly chart showed K% line crossing down indicates sell signal, while daily chart crossing up at oversold level which indicates buy signal. We expect market will bounce before continue its downtrend with immediate support level at...

happytrading96

Technical View: 1.Market closed slightly lower after tighter range 2.Stochastic K% line having mixed signal as weekly chart showed K% line crossing down indicates sell signal, while daily chart crossing up which indicates buy signal. We expect market will bounce before continue its downtrend with immediate support level at 6050. Suggestion Trade: Short if stay...

happytrading96

Technical View: 1. Long Black Bar formed last week, which indicates reversal signs from current uptrend 2.Stochastic K% line crossed down in both daily and weekly chart, as well as divergence signals in both which indicates reversal signal We expect market will continued facing selling force amid expectation of improving in global palm oil supply. Suggestion...

happytrading96

Technical View: 1. Bullish bar formed last week, which indicates strong uptrend signal 2. Stochastic K% line crossed up in both daily and weekly chart which indicates uptrend signal Upon shortened trading week, we expect market profit taking to be continued. Market likely to be quiet and consolidate within range of 6500-7100 Suggestion Trade: Long if stay above...

happytrading96

Technical View: 1. Doji or inside bar formed after long white bar last week, which indicates market forces remained uncertain and likely to have reversal 2.Stochastic showed mixed signals. As K line crossing up fr0m the level of 51 in weekly chart which indicates uptrend signal. While in daily chart showed K line crossed down from the overbought level which...

happytrading96

Last week market extended gains as expected and closed higher at 6468. Congratulations if you have refer to our trading plan to Long above 6030 and took profit at 6232. Let’s have a look on the factors that impact on palm oil prices last week. 1. India’s palm oil purchases are expected to increase for a 3rd month as traders and importers are preferring the...

happytrading96

Technical View: 1. Again Inside bar formed at support level of 5500 which indicates reversal signal, that market likely to resume uptrend. 2.Stochastic showed K line moving slightly below middle level of 50 in both daily and weekly chart which indicates market may move in sideway or ranging. We expect market may in range to higher if market able to break and stay...

happytrading96

Market posted weekly losses and closed at 5566. Let’s have a look on what caused the market move. 1.Peace talks between Russia and Ukraine raised hopes for ceasefire as Russia claimed they will scale down their military operation around Kyiv, which will further de-escalate the conflict between both countries. 2. On the other hand, Russia said it will ban export of...

happytrading96

Market posted weekly gains and closed at 6027 after failed to sustain above 6300. Let’s have a look on what were the key factors move the market. 1. Rally in crude oil prices after an attack on Saudi oil facilities by Yemen’s Iran aligned Houthi Group over the weekend and caused jittery in global oil market. 2. Rising in soybean oil prices as Russia’s troop in...

happytrading96

CPO plunged and closed sharply lower at 5629 last week. What caused palm oil prices deep drop last week? 1. Indonesia announced surprised policy U-turn to remove export volume restrictions on palm oil products and raised its export levy from $375 per tons to $675 per tons. Indonesia government also subsidize bulk cooking oil starting from 1st April 2022 to cool...

happytrading96

What’s other factors would continue to move palm oil prices? 1. India imports hit 12-months low on sky high prices in CPO. This may led to demand further decline as buyers are price sensitive as it relies on imports for 60% of its needs. Currently, India rely on existing stockpiles and incoming domestic rapeseed crop to meet domestic demand 2. Revision of export...

happytrading96

FCPO declined by nearly 8% on last Friday and closed at 6276 as profit taking took place, but posted 2nd weekly gains after touched on historical high at 7108. So, what’s make palm oil now the costlier edible oil among the 4 major edible oils? Global commodities rallied following EU bans certain Russian banks from SWIFT bank payment system which aimed to...