POINTERS: Technical Analysis on CPO 2015 Price

By: Mr. Benny Lee

Mr. Benny Lee is a private trader, trainer, speaker and practitioner of technical analysis for 10 years. He has conducted trading and technical analysis workshops for private and institutional investors in Malaysia, Singapore, Hong Kong, Thailand, Vietnam and Pakistan. Some of his courses such as CPE (Continuing Professional Education by the Securities Commission) have been approved in Malaysia. He has also spoken in many international conferences such as GlobOil, India, Gold and Options conferences in Thailand (AFET), the Asean Rubber Conference, Palm Oil Conference in Jakarta, POTS by MPOC (Malaysian Palm Oil Council) and many others. He has also presented in Exchange-organised events in Malaysia, Singapore, Vietnam and Pakistan. He has presented to a wide range of participants from a group of 10 people to a large audience of 500 people. Mr. Lee writes articles on technical analysis for Smart Investor (Monthly financial magazine in Malaysia), Busy weekly (Weekly financial newspaper), Pulses (Monthly financial magazine by the SGX) and Palm Oil Fortune (Monthly Palm Oil publication). He also appeared on Channel News Asia (Singapore) and BFM89.9 (Malaysia) for his views and commentaries on the financial markets. He graduated in Business Administration and obtained the world’s best paper in Financial Management from the Association of Business Executives, U.K.

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Since 2011, average price of crude palm oil has been falling. However, the decline in year 2014 was marginal. Are we seeing a change in trend or we are still going to see lower prices for 2015? This presentation provides you an alternative to crude palm oil price forecast for the year 2015 using technical analysis. Below are the presentation outlines:

• Recap on forecast made at POTS Kuala Lumpur in Oct 2014
• Identifying current trend: Short term analysis of crude palm oil futures price
• Forecasting price using patterns: Chart pattern analysis
• When: Cycle Analysis
• 2015 Average: Price average analysis
• Conclusion

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Questions & Answers (8) :

Rohit

9 years ago

Thanks. One more thing I will like to request from Mpoc we like to read Mr.Benny lee technical view and you have stop printing it in Fortune Magazine .Please restart it.

Benny Lee Wan Yu

9 years ago

test

Benny Lee Wan Yu:
I do not think price could fall to RM2,200 in the short term. You would probably have to wait till the third quarter.
9 years ago

Benny Lee Wan Yu

9 years ago

test

Benny Lee Wan Yu:
We have seen higher support levels in the past few months and the last one was at RM2,220. I am looking at new support levels at RM2,270 in the short term.
9 years ago

Rohit

9 years ago

Hello! I want to stock palm should I start buying now or wait for 2200 or lower ranges?

Benny Lee Wan Yu

9 years ago

Hi Suhaili, the was slightly below the 200-day moving average but with the current momentum, there is a high chance for price to climb above this level. I believe the price can stay above this average at least until June this year. This would be good enough to make the average price to slightly increase this year as compared to last year. Hence, the forecast I made in the presentation is still valid.

Msuhaili

9 years ago

Hi Benny. Nice to have you here again in POINTERS. Referring to your chart page 3, I believe the red line is the long term 200-day moving average. if it so, look likes the trend is going downward and could be below than this year average price of RM2,272. What do you think? Percentage being below than current price in the 3rd Quater?

Benny Lee Wan Yu

9 years ago

Hi Rohit, I believe the price has already bottomed out at RM2,000 (futures price), but major support level is still at RM2,100

Rohit

9 years ago

Hello! At what level you expect market to bottom out in the short term?