FCPO Update (Analysis for 22-26 August 2016)

Hi everyone,

Lets take a look on weekly & daily chart of FCPO (future crude palm oil)

Weekly - 

CS pattern - long upper shadow -  potential pullback- bearish.

Trendline - Breakout of bearish trendline - bullish

Structure - yet to break last LH.- maintain bearish

Daily-

CS pattern - Harami at resistance - potential going lower.- Bearish

Trendline - Breakout of bearish trendline - Bullish

Structure - making HH. if break 2530, then 'Low' is established.

At the moment, price stops at 2580, with resistance at 2650-2680 area. 

My opinion, for price to further up, they need to break 2680 area. My guess, it will try to find footprint at minimum 38% fiboa area or deeper. who knows. Trade what we see OK.

Daily Chart

Weekly Chart

Below is the trade table for year 2016 (updated up to August 2016). Purely Daily chart only. I trade tf30 chart and tf daily chart (separate account).