freestocktips

MCX Crude Palm Oil: Fifth Wave Rally Is Starting

MCX:CPO1!   CRUDE PALM OIL FUTURES
Main scenario: consider long positions from the control price or support trendline for the target level of 1040 - 1080 - 1100 - 1110.

Analysis: Daily time frame - presumably, the crude palm oil has started an Elliott wave and made the 4th wave, and now it's making a fifth wave. According to EWT , the fifth wave will be completed at 61.8% or 50% of Fib retracement 1+3.

Alternative scenario: breakout and consolidation below the support trendline will allow the CPO to continue declining to the levels of 880 - 760.
Trade closed: target reached

Comments

next plan of cpo?
+2 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out