Crude Palm Oil Futures
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FCPO 7 Feb 2023

169
Price is still in the uptrend channel.
Expect the price to retest the mid/lower channel.

5min TF, price respect EMA50. If today price cross EMA50, expect some trading range before next movement.
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Gap up break prev. channel.
Create new possible channel

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5min channel

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1min possible entry if reject EMA10

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Price rebound to EMA12 14tick TP.

If price break below, possible minor correction until mid/lower channel
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Price expect buat trading range atau turun to lower channel
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Price cross EMA12 5min before market close indicates 1st sign sideway.
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Price trade in range..
Test lower channel and EMA50
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Price break channel indicate confirmation of ranging market OR change trend
Price retest & Reject EMA12 indicate strong seller in the market.
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Price break channel but reject EMA50 indicate buyer still strong.
Strong upward movement before market close reaches the supply area before close back in the range.
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