Currently, MCX Crude Palm Oil (CPO) shows an uptrend. By following the ADX, we can say that the trend will rise because ADX is greater than 25 (ADX>25), and +DI is above the -DI.
Let’s have a look at the volume. Volume spikes double of the average, so this also shows an uptrend, and it will go to the 900 – 920 – 960+.
Right now, the trend is crossing the parallel channel.
If it is excess, then Crude Palm Oil will start to fall to the following targets 836 – 810. It can be said by following the parallel channel.
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