28/8/25 Bulls Need a Strong Follow-through Bull BarCrude Palm Oil FuturesMYX:FCPO1!Tech_Trader88Wednesday’s candlestick (Aug 27) was a bull bar closing slightly above the middle of its range with a prominent tail above. In our last report, we stated that traders would observe whether the bears could create a strong second leg sideways to down, breaking below the August 21 low and testing the 20-day EMA, or if the market would trade lower but stall around the August 21 low or the 20-day EMA instead. So far, the second leg sideways to down is stalling around the August 21 low area. The bulls see the current move as part of a two-legged pullback. They want any pullback to be weak and sideways, lacking follow-through selling, as has been the case with all recent pullbacks. They want it to form a double bottom bull flag with the August 21 low. They need to create a strong follow-through bull bar tomorrow to increase the odds of a retest of the August 19 high, followed by a strong breakout above. If the market trades lower, the bulls want the 20-day EMA to act as support. The bears want a reversal from a wedge pattern (June 20, July 24, and August 19), and a large double top bar flag with the February high. They view the current move as the second leg sideways to down. They need to create strong follow-through selling, trading below the August 21 low to increase the odds of a reversal. Production for August may be flat or down. Sept should be flat or down as well. Refineries' appetite to buy remains decent. Export: August export up 10% in the first 25 days. So far, the pullback phase has been mostly sideways, characterized by overlapping candlesticks. The pullback appears to be minor for now. The bulls need to create a strong follow-through bull bar to increase the odds of a reversal from a double bottom bull flag. For tomorrow (Thursday, Aug 28), traders will see if the bulls can create a strong follow-through bull bar. If they do, the odds of retesting the August 19 high will increase. Or will the market trade lower, breaking below the August 21 low and testing the 20-day EMA instead? Andrew