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ArifHasbollah

FCPO 8 Oct 2021 : Bearish Pennant?

Short
Crude Palm Oil Futures (MYX:FCPO1!)  
ArifHasbollah Aggiornato   
MYX:FCPO1!   Crude Palm Oil Futures
Chart Patterns fcpo fcpomalaysia
7
8
chartpattern fcpo fcpomalaysia
1. Yesterday have bullish pennant formation.
2. Today morning open price hit TP with 1:1 for pennant formation
3. Bearish momentum strong
4. Possible formation of bearish pennant as long as not break the bearish engulfing pattern.

Target TP is 120point.
Commento:
Break the pattern.. invalidated pennant
Commento:
Market Sideway.. let see which side price choose.
Strong bearish CS indicates price biased towards a downtrend.

snapshot
Commento:
Sell at resistance with condition
snapshot

Idee correlate

ArifHasbollah
FCPO 8 Oct 2021 : Mistake Entry
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FCPO 7 Oct 2021 : Breakout support & possible retracement
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