60 min chart

3164 ; FCPO is not out of the woods yet. Bullish the whole day and closed near the highs. From a pennant now formed a bullish flag which means bearish if price within the flag but bullish if breakout above. Support; 3143,3097,3052. Resistant; 3176, 3205,3244.

60 min chart

FCPO 3151; Open gap-down and closed near the lows. Broke down from the Pennant means this is not just a mere correction - maybe a short term downtrend. With last Friday's fall on soya oil price at CBOT, can expect more retracement. If  3140 breaks, next support will be 3097, then 3052. Resistance ; 3176,3295,3244.

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I am a full time FCPO (futures crude palm oil) trader. I will try my best to record all my trades here in this blog. Feel free to give comments and share ideas to improve this blog.