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+KHOO
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+KHOO
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+KHOO
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
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.
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
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
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
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.
