Thursday, 23th July 2015. The year 2015 might the worse range trading in the century for palm oil futures, maybe that just me but take a look at it !!! After ten months it is still within the box.
FCPO- Yes, Wake Me Up In Sept
That is how I look at it right now, palm oil futures is not doing what it does best, trending. I hear, no I tested that this market, the FCPO, is a trending market, hey what does other commodity market that does not trend. Every commodity market tends to trend in the long term. But maybe for this particular time, palm oil futures is not part of it, yet. I want to rant more than anyone else, but I think I would rather tell why it does not trend or it just moving within a big range. But then again, I want to relate about all the reason behind "why it does not trend for palm oil futures" but would it matter ? Look the market does not trend well this year and it is hurting the trend trader in a big way. But a true trend trader always have other commodities market to focus on, they probably have about 5 other market to target their fund. Unfortunately for those other trend trader that just focus on one market, palm oil futures particularly, you might have to wait longer. I can think of a few list why the palm oil futures does not trend from the economical changing environment in China, Europe and U.S but you cannot be sure which one of those list is related. Whether any particular market trends or not, it does not have to provide you any reason at all. It just simply stop trending for a while, no reason at all. The point is, palm oil futures is likely staying within the cage for quite some time before it would show any sign of long term trending.
P/s: Maybe it will breach monthly high again and again after this write up.
Disclaimer: Information and opinions contained in this report are for educational purposes only. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness.
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