Crude Palm Oil FuturesUpdated FCPO 23 Feb 2023 : Reaccumulate or Distribution?
Yesterday :
1. As expected, price test nearest resistance before going down to test EMA50 30min.
2. Night session price back up again and we notice the volume is diminishing.
3. Notice BCX and AR before ST forming last night's session.
4. Trading in range before UT/UTAD or Spring appears.
5min :
1. MS : sideway structure
2. EMA : EMA12 above EMA50 = uptrend
3. Price above EMA50 = uptrend
4. MACD : Bearish divergence = Good tools to trade in the range.
1. As expected, price test nearest resistance before going down to test EMA50 30min.
2. Night session price back up again and we notice the volume is diminishing.
3. Notice BCX and AR before ST forming last night's session.
4. Trading in range before UT/UTAD or Spring appears.
5min :
1. MS : sideway structure
2. EMA : EMA12 above EMA50 = uptrend
3. Price above EMA50 = uptrend
4. MACD : Bearish divergence = Good tools to trade in the range.
Note
Reject mid channel..Retest 236 level
See if price reject 236 level
Note
SW behavior.. If Sell High, less risk
Note
Today still dont have structure.Since bias to go lower, wait for MS SELL to appear
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.