Crude Palm Oil Futures (FCPOF2026) is in an intermediate uptrendDespite the minor pullback on October 16 (the current day). Market is attempting to consolidate above the 20-day SMA and is showing strong bullish signs based on the Ichimoku indicator, with a near-term target potentially towards the 4,700–4,800 MYR level.
East Malaysia Crude Palm Oil Futures
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a bullish outlook, following EW impulse patternIdentified a potential 5-wave upward impulse move starting from the low in early October.
Wave 3 appears to have just completed, reaching a high of 4,612. This wave is typically the strongest and longest.
The chart projects a corrective Wave 4 is now underway. The blue line indicates a potential path for this correction, suggesting a pullback towards the Fibonacci retracement levels.
Following the correction, a final upward Wave 5 is anticipated, with targets set by Fibonacci extension levels
Potential Inverse H&SA descending trendline has been drawn, connecting the peaks between the shoulders and the head. A decisive break and close above this neckline would be a bullish confirmation signal, suggesting a potential trend reversal to the upside.
Ichimoku Cloud Analysis:
The price is currently trading inside the Kumo (the cloud), which typically indicates a state of consolidation or equilibrium.
A breakout above the top of the cloud (Senkou Span B) would add strength to the bullish case. Conversely, a f
A baerish outlook for fcpo pricesA potential Head and Shoulders pattern, which is a classic bearish reversal formation. The chart has labeled "Neck line" around the MYR 4,475 price level. A decisive break below this neckline would confirm the pattern and signal a potential move lower.
Fibonacci Retracement: A Fibonacci retracement tool has been applied from a recent swing high (around MYR 4,515) to a swing low (around MYR 4,411). The price has struggled to stay above the 0.382 and 0.618 levels, which often act as resistance in
Malaysian Palm Oil Hovers around MYR 3,780Malaysian palm oil futures traded around MYR 3,780 per tonne, extending gains from the prior session amid strength in rival edible oils. Prospects of lower production because of dry weather and declining inventories also lifted sentiment. Malaysia's palm oil stocks at the end of November fell after growing in the prior 6 months. Capping the bullish traction was a lack of market participants and a low volume of trade in the wake of a holiday weekend. Meantime, exports of Malaysian palm oil produc








