The short term technical trend indicator Y short 2188 on FCPO will have to do a stop and reverse buy trade once the cpo futures price is last trade above 2138 at 4pm in the afternoon trade session today. Yes, it is any price above 2138, which mean, it is having very high chances that the indicator Y will turn long in the afternoon trading session today after seeing the low 2121 that was just traded yesterday since turning short 2188.
If readers traders had the 25-day palm oil export, think about it what will be the 31-day palm oil export figures with a simple mathematical calculation. Say 1.4mt x 31 days / 25 days, it will be over 1.7mt on the palm oil export for the month of April!!! What a big figure that never see in our record -- 1.7 million tones of palm oil export in a month, a historical high of monthly export figure!
This is purely a fundamental analysis, but it is good to learn that too since it does help generating a longer term view on the cpo futures market trend which mean if the fundamental demand high supply low, cpo futures price will be on uptrend in the long run.
The Basic of Crude Palm Oil Futures Trading On Bursa Malaysia Derivatives Based On Technical Analysis.
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