23/12/2012 ; FCPO 60 min chart ; 2409 ; BULLISH. This week ended up 100 pts after opening gap-up also 100 pts ( coincidence?) Monday, then consolidated mid-week but recorded a higher high and a higher low. Ended the week with a positive note forming a 'rising wedge' chart-pattern after making a 'reversal divergence' earlier. BULLISH as long price is within the wedge. BEARISH if breaks downwards.

3/9/2012; FCPO -3073; BULLISH; Fcpo opened  gap-up today & broke above the 'bearish pennant' and continue to close near the highs of the day. From a pennant it now formed a 'bearish flag'. Price is now above moving averages.It will be bullish as long as price within flag. Bearish if break down. Meanwhile Soybean also opened higher at the European market.

1/9/2012 ;  FCPO 3019 ; SIDEWAY TO LOWER. Fcpo ended the week lower at 3019 after recovering 300 points to the high of 3122, from the low of 2820 recorded on the 14/8/2012. Prices are now at a 'neutral' position, in between the moving averages. It now formed a 'bearish pennant' which usually breaks down. If price breaks down its bearish. If breaks up, its bullish. In the meantime soybean oil is also consolidating. 

15/8/2012 ; FCPO 2862 ; SIDEWAYS to downside biased. Fcpo sideways the last 3 trading days with not much movement forming a 'pennant' within a bigger 'BULLISH FLAG'. Not much excitement is expected in the coming days ahead of an extended weekend due to public holidays where FCPO is expected to find a neutral point to park. Bullish if breakout upwards from the pennant. Bearish if breakdown. 

8/8/2012 ; FCPO 2864 ; Turned bearish. Breakdown from the falling wedge and back into the bigger bullish flag formation.The breakup from the falling wedge didn't materialize.  Next support will be the critical 2840 level. If that is breached more bearish momentum is expected. Meanwhile the reversal divergence still persist which suggests that some upside correction is expected.

8/8/2012 ; FCPO 2907 ; SIDEWAY  still. From a pennant now formed a falling wedge which has to breakout. If breakout upwards it's bullish. If breakout downwards it's bearish. Meanwhile in the 60min chart formed a reversal divergence.

4/8/2012 ; 2918 ; Sideways still. Not much movement for the last 2 weeks. From a falling wedge, turned to a rising wedge. Now forming a pennant which is a confirmed sideway pattern until it breaks out. Bullish if break upwards and bearish if it breaks downwards.