Global data/news (Reuters and Trading Economics)
• Chicago wheat futures jumped 6% and corn rose more than 2% on Monday as Russia's withdrawal from a Black Sea export agreement raised concerns over global supplies. (Reuters)
• India sharply raised the base import prices of crude and refined palm oil and crude soya oil, the government said in a statement on Monday, as prices jumped in the world market.
• Exports of Malaysian palm oil products for October 1-25 dropped from the same period in September.
• A combination of pressure from the expected rate hikes, the relative strength of the dollar and rising yields continue to pressure gold prices.
Remarks
• FCPO consolidating near daily 100EMA. Major line to break.
• FCPO rebound from 1H 100 EMA twice, both return to the 1H consolidation zone.
• Triangle pattern in 1H chart.
Short Term Trend : sideways
Trading Plan:
• Short –
o Price breakdown and maintain below 1H support zone. TP1:4010, TP2:3980 SL:4080
o Price fail to break 1H resistance zone, TP1:4080, TP2: 4010 SL:4180
• Long –
o Price supported and maintain above 1H support zone. TP1:4155 TP2: 4255 SL:4045
o Price breakup and maintain above 1H resistance zone, TP: 4255 SL:4155
Disclaimer: This is just my IDEA on the market, not a suggestion to open any trade. Please do not follow without any personal due diligence on the market.
• Chicago wheat futures jumped 6% and corn rose more than 2% on Monday as Russia's withdrawal from a Black Sea export agreement raised concerns over global supplies. (Reuters)
• India sharply raised the base import prices of crude and refined palm oil and crude soya oil, the government said in a statement on Monday, as prices jumped in the world market.
• Exports of Malaysian palm oil products for October 1-25 dropped from the same period in September.
• A combination of pressure from the expected rate hikes, the relative strength of the dollar and rising yields continue to pressure gold prices.
Remarks
• FCPO consolidating near daily 100EMA. Major line to break.
• FCPO rebound from 1H 100 EMA twice, both return to the 1H consolidation zone.
• Triangle pattern in 1H chart.
Short Term Trend : sideways
Trading Plan:
• Short –
o Price breakdown and maintain below 1H support zone. TP1:4010, TP2:3980 SL:4080
o Price fail to break 1H resistance zone, TP1:4080, TP2: 4010 SL:4180
• Long –
o Price supported and maintain above 1H support zone. TP1:4155 TP2: 4255 SL:4045
o Price breakup and maintain above 1H resistance zone, TP: 4255 SL:4155
Disclaimer: This is just my IDEA on the market, not a suggestion to open any trade. Please do not follow without any personal due diligence on the market.
Dagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.