FCPO Daily Analysis for 17 October 2024 - Breakout Looming?
The FCPO market on 17 October 2024 has been characterized by consolidation within a symmetrical triangle. With the price oscillating between RM4,250 and RM4,300, traders are awaiting clearer signals before committing to large positions. The narrowing MACD histogram and neutral RSI suggest that a breakout is imminent, though it remains unclear whether the market will move higher or lower.
For tomorrow’s trading session, the key levels to watch are RM4,300 on the upside and RM4,250 on the downside. A breakout from the symmetrical triangle should provide a strong signal for traders to either go long or short, depending on the direction. In the meantime, monitoring external factors such as crude oil prices, export demand, and production figures will provide additional insights into the future direction of the FCPO market.
As we move towards the end of the week, traders should remain cautious but ready to act once the market gives a clear signal. Whether the breakout will be bullish or bearish remains to be seen, but the technical indicators suggest that a significant move is on the horizon.
Read full analysis on masterfcpotrading.com/daily-analysis/17102024/
For tomorrow’s trading session, the key levels to watch are RM4,300 on the upside and RM4,250 on the downside. A breakout from the symmetrical triangle should provide a strong signal for traders to either go long or short, depending on the direction. In the meantime, monitoring external factors such as crude oil prices, export demand, and production figures will provide additional insights into the future direction of the FCPO market.
As we move towards the end of the week, traders should remain cautious but ready to act once the market gives a clear signal. Whether the breakout will be bullish or bearish remains to be seen, but the technical indicators suggest that a significant move is on the horizon.
Read full analysis on masterfcpotrading.com/daily-analysis/17102024/
تعليق
See full analysis from masterfcpotrading.com/daily-analysis/17-october-2024/
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