31 May: #fcpo opened higher due to a bullish export outlook and broke the recent swing high. The market managed to close on the high side, although the buying momentum seemed to be losing steam, possibly due to the approaching long weekend.
I am a day trader sharing insights on futures trading. Views expressed are my own and not intended as advice.
Friday, May 31, 2024
Wednesday, May 29, 2024
fcpo 29052024
29 May: #FCPO moved further up after digesting the initial profit-taking, maintaining its gains till the end with support from increasing buying interest.
Tuesday, May 28, 2024
fcpo 28052024
28 May: FCPO opened higher, tracking powerful buying in Dalian due to restocking. The market continued to rise throughout the session after absorbing the morning selling pressure.
Thursday, May 23, 2024
fcpo 23052024
On May 23, FCPO opened mixed and moved up despite weak performance in Dalian. The buying was mild, and gains didn't sustain as Dalian tested new lows after lunch. The market struggled at the low end of the range but managed a rebound due to good buying force, although it didn't maintain the gains until the end.
Tuesday, May 21, 2024
fcpo 21052024
21 May: The market opened weak, breaking down the opening range quickly, but lacked selling force initially. Real aggressive selling started after lunch and continued until the end of the session.
Thursday, May 16, 2024
fcpo 16052024
On 16 May, FCPO quickly turned south after the open due to aggressive selling. Another gap-down occurred after lunch following a bearish 1-15 days output forecast. However, strong short-covering trapped breakout traders, leading to a market rebound that stayed above 3810 for the remainder of the session, despite a final sell-down triggered by another bearish export estimate. How to master in FCPO:
https://play.google.com/store/books/author?id=GT+KHOOWednesday, May 15, 2024
fcpo 15052024
15 May: The market powered up with buying force, tracking Dalian's tech rebound. It broke out of the opening range later with more buying power coming in, and buyers managed to defend the gains until the end. How to master in FCPO:
https://play.google.com/store/books/author?id=GT+KHOOTuesday, May 14, 2024
fcpo 14042024
On May 14, FCPO opened higher but lacked buying force. The market quickly declined with aggressive selling, which intensified after the lunch session, continuing until the market closed. How to master in FCPO:
https://play.google.com/store/books/author?id=GT+KHOOSunday, May 12, 2024
fcpo 10052024
On May 10th, the market gapped down, tracking weak Dalian to a new swing low, but cautious selling pressure had no follow-through. It broke out of the opening range and held before lunch, with buying force increasing. In the afternoon session, the market opened another gap down due to a bearish monthly supply-demand report, but managed to come back higher until the end, with strong buying force. How to master in FCPO:
https://play.google.com/store/books/author?id=GT+KHOO
Friday, May 10, 2024
Supply Demand Apr 2024
The monthly supply-demand report just released is bearish. Output has outpaced exports, causing stocks to pile up. Unless the export outlook improves, any rebound will likely be short-lived.
Thursday, May 9, 2024
fcpo 09052024
On May 9th, after setting up a high at the open range, the market seemed to lose momentum again. The range was broken with selling pressure persisting until the end of the session. How to master in FCPO:
https://play.google.com/store/books/author?id=GT+KHOO
Wednesday, May 8, 2024
fcpo 08052024
On May 8th, the market experienced a fakeout as the first 15-minute breakout lacked buying confirmation. It quickly fell back to the opening price. During lunchtime, the market did not improve, and the opening range was broken with selling pressure persisting until the end of the session. How to master in FCPO: https://play.google.com/store/books/author?id=GT+KHOO
Saturday, May 4, 2024
fcpo 03052024
On May 3rd, the market opened with a gap down, tracking weak soyoil overnight. However, it quickly recovered and broke out of the opening range, although the trend wasn't fully established. A cross-up occurred during lunchtime, powering up the second session, but the market struggled around VWAP later. Despite this, it managed to hold above the opening range. After 5:30pm, the market finally decided to move up until the end. How to master in FCPO: https://play.google.com/store/books/author?id=GT+KHOO
Thursday, May 2, 2024
fcpo 02052024
On May 2nd, there was an initial breakout of the opening range, but it conflicted with the direction of the EMA and failed to hold its gains, falling back inside the opening range. After 3pm, sellers started covering their positions, and bargain hunting ensued. The market experienced another breakout and pushed up until the end of the session.