5/11/25 Sideways Consolidation After Strong SelloffCrude Palm Oil FuturesMYX:FCPO1!Tech_Trader88Yesterday’s candlestick (Tuesday, Nov 3) was an inside bull bar. In our previous report, we noted that traders would watch whether the bulls can produce a minor pullback and a few decent bull bars in the days ahead, or if the bears will extend their follow-through selling. The market formed a small range consolidation day. The bulls hope the current move will form a major higher low. They want a reversal from a parabolic wedge (Oct 23, Oct 29, and Nov 3). To show they’re regaining control, the bulls must now produce strong consecutive bull bars breaking clearly above the bear microchannel and closing above the 20-day EMA. The bears’ measured-move target, based on the height of the prior trading range, projects toward the 4000–3950 area. The current move has formed a 11-bar bear microchannel, signaling strong bears and persistent selling pressure. The first pullback will likely be minor, followed by at least a small sideways-to-down leg retesting the current low (Nov 3). Production: November figures are yet to be released. Refineries: Buying interest remains, though not paying a premium vs spot futures. Exports: ITS figure to be released today. Overall, the market broke out from an 11-week trading range in a persistent 11-bar bear microchannel — evidence of strong selling momentum. The market remains Always-In-Short. The selloff, however, is slightly climactic and has a parabolic wedge shape. Perhaps a minor pullback (bounce) may be in the cards soon? For now, odds still slightly favor the first pullback being minor, with sellers above the bear microchannel. If there is a stronger bounce, perhaps sellers maybe waiting around the 20-day EMA area. For today, (Nov 5), traders will watch whether the bulls can produce a minor pullback and a few decent bull bars in the days ahead, or if the bears will extend their follow-through selling. Andrew