Crude Palm Oil Futures

FCPO - Bearish flag pattern breakout

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Comment :
1) FCPO is forming a bearish flag pattern in a downtrend since the peak in May 2022. This pattern is expecting a further movement down at the end of the flag.

2) The condition of a bearish flag including associate with descending trading volume during flag is forming. Eventually, FCPO has breakout below the low of the lower channel on 1st Sept.

Support & Resistance:
R : Resistance A
S : Supporting B & 2125


DISCLAIMER :
Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.

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