• 8 hours U.S. Moves To Bar Iranians From Investor Visas
  • 2 days Why Germany Is Going To War With Gold
  • 3 days Gold Is Still Cheap Compared To Stocks
  • 3 days Are Cryptocurrencies Funding Terrorism?
  • 4 days Promising Oil Companies To Watch In 2020
  • 4 days Could China's Coronavirus Outbreak Impact U.S. Stocks?
  • 5 days Tesla Stock Continues To Soar
  • 6 days What New Economic Data Reveals About Gold's Trajectory
  • 6 days The Lucrative New Tech Hijacking Your Privacy
  • 7 days The Biggest Loser In The China-U.S. Tariff Tit-For-Tat
  • 7 days Trade War Takes Its Toll On Shipping
  • 10 days Is $90 Oil Possible? An Interview With Jay Park
  • 10 days Billions Of Dollars Are Flooding Into The Flying Taxi Space
  • 11 days Is This The Most Important Energy Project Of 2020?
  • 11 days Startups Are Dying To Give You A Better Death
  • 12 days U.S. Restaurants Are Struggling With Rising Labor Costs
  • 12 days The Banking Bonanza Is Just Getting Started
  • 13 days How The Trade War Ceasefire Will Impact The Energy Industry
  • 13 days Who Is The Most Dangerous Person On The Internet?
  • 14 days SoftBank Sees First Quarterly Loss In 14 Years
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

Crude Palm Oil (CPO) - Broke Its Multi-Month 'Reversed HS'!!!

See Jan 16th's post: (http://tinyurl.com/b7sg2lm), I mentioned the bottoming crude palm oil price on its "monthly H&S broken-down pattern" while its weekly chart was showing a highly probable "reversed H&S pattern" set-up since the H&S target was met.

  1. The weekly price chart just broken-out of its "reversed H&S" pattern decisively.
  2. The price action of late is certainly pointing to more upsides in the Crude Oil itself as Palm oil typically track and rally along with Crude oil prices.
  3. 1st implication: although a rallying CPO prices is positive for the upstream producers, it also mean that inflationary pressure is once again looming and would not bode well for equities in general
  4. 2nd implication: a rallying commodity prices is very likely confirming equities' top since commodities typically lag equities' rally. Therefore, a final rally in commodities means equities are already in the process of topping!
  5. Lastly, given that global demand & supply outlook for CPO has not actually improved do drastically in the interim is implying that the bullish breakout in its prices could be led by speculative traders in the futures' market.


CPO (Monthly)

  • Confirming the completion of H&S pattern where its minimum target was met and followed by 2-monthly swing on its multi-year support line since 1999.

CPO Monthly Chart


CPO (weekly)

  • Its "reversed H&S" just broken out of the neckline pointing to more bullish moves in coming weeks!

CPO Weekly Chart

 

Back to homepage

Leave a comment

Leave a comment