Crude palm oil futures closed the week firmer with price break and closed above the double bottom pattern resistant level. Both the Bollinger band and MACD indicators has recorded a positive reading for an upward movement but the only concern here would be the latest weekly candle bar closed a little above the upper Bollinger band telling us that price could been a little over extended and should price in the coming week traded way above the upper band, a pull back effect is likely to take place. Overall a bullish weekly chart for FCPO.
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