FCPO and FKLI technical update

Since the recent bottom near 1700 the market has rebounded quite strongly.  The rebound may have legs as an uptrend seems to be developing, The next major selling spot would be near 1850 by the looks of the charts.  It actually isn't that far away.  

FCPO has rebounded quite nicely and looks to continue its upward trajectory.  If you aren't sure why the market has rebounded, we can look to two things, the market has sold off extremely hard over the last two months, breaking a lot of technical areas and stops.  After all the selling, we are having a little rally.  The rally isn't just due to  short covering but fundamentals.



If you've never seen what a flooded palm oil palm oil plantation, you can look at this.

It's not exactly a little flood.  You need a boat to go harvest the palm oil fruit.  The rains are right now causing massive floods.  There is no way palm oil plantations can get a lot of the crop.