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TODAY, A VERY VERY IMPORTANT EVENT HAPPENED IN THE MALAYSIA DERIVATIVES MARKET. THE FCPO (CRUDE PALM OIL FUTURES) HAD OPENED WITH A BULLISH START, AND END WITH A BULLISH NOTE THAT HAD DEFEATED THE RESISTANT LINE OF 2900 WITH GOOD STRENGTH AND VOLUME
THE PALM OIL FUTURES ALSO TESTED ABOVE 12 YEAR LONG RESISTANT LINE, WITH GOOD STRENGTH TO PUSH TOWARDS 3000
SINCE ALL LOW AND MID LINER PALM OIL COUNTER HAD MOVED, ONLY 1 FAVORITE BIG GORENG GORENG LEFT.
THE COUNTER IS NONE OTHER THAN FGV - 5222
FGV HOLDINGS BERHAD
FGV PRODUCTION OUTPUT FOR CRUDE PALM OIL IS EVEN LARGER THAN IOICORP BY 4 TIMES!!!!
TECHNICAL CHART SHOW FGV IS IMPENDING TO EXPLODE ALL WAY OUT !!!!
1. BASED ON 6 MONTH TREND LINE, FGV IS ON UP TREND, AND WILL BREAK ABOVE DOWN THE DOWN TREND LINE AND TRADE HIGHER
2. FGV GOT CUP AND HANDLE FORMATION, AND BACKED WITH HIGHER FCPO PRICE WHICH REAFFIRM BREAK OUT
3. FGV BREAK OUT FROM TRIANGLE SHAPE WILL BE A UPWARDS BREAK UP INSTEAD OF DOWNWARDS BECAUSE FCPO PRICES ARE ALL TIME HIGH IN 2020
WHERE WILL FCPO BE HEADING TOWARDS IN 2020?
IN 2008, IT WAS ABOVE 4000!!
LET ME BRING YOU SOME PROJECTION FOR 2020
FOLLOWING THE UPTRENDING PROJECTION OF THE FCPO, THE FCPO HITTING 3100 / 3200 RANGE IS POSSIBLE.
FGV IS THE LAST BIG POWERFUL WOLF IN PLANTATION INDUSTRY GOING TO MOVE !!!
FGV LETS GO - RM 1.50
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