2/10/25 Bulls Need Strong Close Above 20-Day EMACrude Palm Oil FuturesMYX:FCPO1!Tech_Trader88Wednesday’s candlestick (Oct 1) was a bull bar closing in its upper half with a prominent tail above. In our last report, we stated that traders would observe whether the bears could create more follow-through selling testing near the Sept 23 low, or if the move would start to stall at a higher low, followed by a reversal above the 20-day EMA in the weeks ahead. The market stalled at a higher low (vs Sep 23) so far, and traded higher for the day. The bulls view the recent move (Sep 23) as a deeper two-legged pullback and want a reversal from a double bottom bull flag (Aug 29 and Sep 23) and a large double bottom bull flag (Aug 4 and Sep 23). They view the recent move (Sept 30) as a retest of the prior low (Sept 23), and want the pullback to lack follow-through selling, forming a higher low. So far, this is the case. They want a retest of the August high, even if it only forms a lower high. They must create follow-through buying above the 20-day EMA to increase the odds of the market trading higher. The bears got a deep pullback and a breakout below the tight trading range (Sep 23), but the move lacked sustained follow-through selling. They then got a small second leg sideways to down leg to retest the Sept 23 low, and the move formed a higher low (Sep 30) so far. They see the current move as a pullback and want the 20-day EMA to act as resistance. They want the market to form a double top bear flag with the Sept 26 high. They need to create strong follow-through selling below the 20-day EMA to increase the odds of a reversal. Production for Oct should be down. Refineries' appetite to buy remains decent. Export: Oct export remains to be seen. For today (Thursday, Oct 2), traders will see if the bulls can create more follow-through buying, closing above the 20-day EMA. Or will the market test near the 20-day EMA but stall and trade lower instead? Andrew