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Crude Palm Oil by TrendFollower

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The 20, 50 and 100 DMA curves on the 'daily' timeframe are sloping upwards which is extremely bullish and this trend has been very nice indeed. 

When I talk about 'Strongest Trending Assets' in my other threads then I am suggesting those that a lot of traders do not spot but they exist and are available not only to trade on IG's platform but one must be able to spot and identify them. 

422030532_CrudePalmOil_20191121_19.50-3.png.65d52df6599f708217aed42b316c8628.png

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Crude Palm Oil continues its rise in price.

1171630866_CrudePalmOil_20191123_12_10.thumb.png.23648b026f058d865319885a8588aff5.png

Palm oil output deficit to push price upward in 1H20: Expert

https://www.theedgemarkets.com/article/palm-oil-output-deficit-push-price-upward-1h20-expert

Identifying the 'Strongest Trending Assets' has been a trading principle and mantra that I have stressed on many of my posts.

This is an example of an asset that is trending strongly and one where points / profits can be achieved in the correct directional trade. It can be achieved by doing nothing complex or confusing but merely following the price action and trend in the direction it is moving in.

The key is to identify these assets in the first place and as quickly as possible. If it can be identified at the earliest opportunity then it allows the profit potential to be greater. 

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Crude Palm Oil continues to rise. 

As you can see from the chart below the price is trending strongly above the 'Parabolic SAR'. 

322170426_CrudePalmOil_20191206_18_33.thumb.png.1760cb7ddda5fe86a5c12d267bf024d7.png

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In my personal opinion, Crude Palm Oil, has been an excellent trending asset which has shown a strong upward bias. It is still moving upwards and if you look at its 20, 50, 100 and 20 DMA curves on the 'daily' then you will see that they are all sloping upwards which is a very bullish and a trend / pattern I am seeing in other 'Soft Commodities'

1426161948_CrudePalmOil_20200112_18_07.thumb.png.6487b1c48ecbf5a983a03a963b37bf8f.png

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Crude Palm Oil is looking bearish. As you can see from the 'daily' chart below that it has gone below its 20, 50 and 100 DMA's and for me the price target is going to be around its 200 DMA which is the 'gold' curve on the chart. 

1663521482_CrudePalmOil_20200222_10_38.png.67031cd272d44a2a0300f201d42c5ec3.png

As you can see when Crude Palm Oil reach its high that high was re tested a few times and rejected. This was the sign of a possible trend exhaustion. Then once the decline started it was the signal/indicator of a potential 'shorting' opportunity. Now some of you will be saying that hindsight is a wonderful thing but if you get into the habit of monitoring the price action of the asset you are trading or interested in trading then you can see these potential signals/indicators in real time and use it to help you make trading decisions.  

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