Price had made extreme low at 795 on 20 Apr '20.
It had started a quick recovery after an inviolable bottom-out. Due to bearish sentiments and no evidence of the verified bottom, It had constructed 2nd wave correction. The second wave retraced 38.2% of wave 1, which indicates a sturdy bull trend is ahead!
The acceleration phase lasted for 246 days and, the...
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...
