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Crude Palm Oil Futures
Long

FCPO Week 37 2024: BULLISH.

By edramlan
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.
Comment
Moving slowly upwards.
Chart Patternsfcpofcpo!fcpo1FCPO1!fcpodailyfcpomalaysiafcpotraderfcpoweeklyTrend Analysis

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