11/7/25 FT Selling or, Sideways and Another Leg Up?

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11/7/25 FT Selling or, Sideways and Another Leg Up?Crude Palm Oil FuturesMYX:FCPO1!Tech_Trader88Thursday’s candlestick (Jul 10) was a bear doji closing slightly below the middle of its range. In our last report, we said traders would see if the bears could create a strong bear bar closing near its low, or if the market would trade lower, but close with a long tail below or above the middle of its range instead. The market traded lower in the night session but there was no strong follow-through selling during the day. The bulls see the current move forming a small bull flag (a double bottom bull flag on the 60-minute chart). They want it to form a higher low vs Jul 7. They want a measured move based on the first leg up (July 1 to July 3), which will take the market to around the 4260 area. They want another leg up to complete the wedge pattern, with the first two legs being Jul 3 and Jul 9. The bears see the current move as a retest of the prior high (Jun 20) and want a higher high major trend reversal and a double top bear flag (with the Jun 20 high). They see the move from June 11 as a large two-legged move. They want a lower high vs the April high. They must create sustained follow-through selling to show they are back in control. Production for July is expected to be around the same level as June. Refineries' appetite to buy so far looks decent. Export: data is mixed, remain to be seen. So far, the follow-through selling by the bears is still limited. They are not yet as strong as they hoped for. For now, traders will see if the current move is simply a pullback, to be followed by another leg up after the pullback, or if the bears can start creating sustained follow-through selling. For tomorrow (Friday, Jul 11), traders will see if the bears can create a strong bear bar closing near its low. Or will the market continue to trade sideways with limited follow-through selling, and trade higher to retest Jul 9 high instead? Andrew