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.
On April 29th, the night market failed to hold its gains, experiencing an initial breakout with weak buying force. It quickly gave up its gains and turned south, tracking CBOT weakness. This morning, it opened with another gap down, further tracking CBOT's decline. How to master in FCPO:
The February supply-demand data indicates a neutral stance, with exports disappointing and stock levels meeting expectations. Immediate short-term support at 4050 must be defended; failure to do so may trigger a deeper pullback
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The market could resume its upward momentum following the release of better-than-expected supply-demand data. Stronger-than-anticipated exports and a reduction in stock levels, despite output not being as weak as initially forecasted, may fuel this upward movement.
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