9/2/2013 - FCPO - 2560; BULLISH STILL.

This week FCPO ended the week at 3560 after recorded a new higher high last week of 2593 and a higher low of 2529. It now formed a 'descending triangle' above at the end of the 'rising flag'. This indicate that even after a week of consolidation, it's still very 'strong' indeed as it ended above the moving averages.Is this the start of a SUPERBULL run? If it breakout above the triangle it's BULLISH and if breakdown below the triangle its' BEARISH.   

3/1/2013 ; FCPO - 2475 ; BULLISH STILL.

Fcpo bullishness still intact since it's still within the 'rising wedge' since the last 2 weeks. From a low of 2217 on the 13/12/2012, it has risen to a high of 2524 yesterday recorded a higher lows and higher highs. Fundamentals are positive due to rising soyoil prices and also bad weather conditions will hamper palm oil production. Bullish if price within wedge or break up. Bearish if break down.

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.