2/3/26 Can Bulls Create Strong Buying Above 20-day EMA?Crude Palm Oil FuturesMYX:FCPO1!Tech_Trader88Friday’s candlestick (Feb. 27) was an inside bull bar closing in its upper half. Bulls view the current move as a two-legged bear leg and a sell vacuum test of the prior support level, the January low. They want the trading range's low area to act as support. They need to create strong consecutive bull bars trading above the 20-day EMA to show they are back in control. Bears got a reversal from a double top bear flag (November 19). Bears want a second leg sideways to down to retest the current leg low (February 13). So far, this is the case. If the market trades higher, they want the 20-day EMA or the February 2 high to act as resistance, creating a double top bear flag. Fundamentals: • Production: Production for March - could be flat to slightly up (more working days) • Refineries: Not paying premiums vs spot futures - yet. • Exports: ITS March - TBA The market formed a strong leg up, followed by a strong leg down. This indicates a trading range activity pattern - buy vacuum up to test resistance, and sell vacuum down to test support. In a trading range, traders will Buy Low, and Sell high - buying near the lower third of the trading range and selling near the upper third of the trading range. For now, (Monday, March 2), traders will watch if the prior support level in January will act as support and form a major higher low, and the market reverses above the 20-day EMA. If the market trades higher, traders will watch to see if the 20-day EMA or the February 20 high acts as resistance. Or will the market continue to lack buying pressure similar to the whole month of February? Andrew