Monday - 7 March 2008
12.45 a.m. - Malaysian Time
On last 1st of April ( April Fool day? ) , I made a prediction on the CPO market but it seemed my prediction was not right at all. As I have said earlier on, in this kind of investment there are times when you are right, sometimes almost to 100%, and there are also times when you are not. If you are using Japanese candle sticks, not all the sign that you recognise on the chart may end up to your expectation.
Well, last Friday the market open at 3305 and closed at 3297. The highest was at 3305 and the lowest was at 3262.
Well, if there are still people out there who may still like to "hear " my forecast, then here is my forecast for today's market; I think, in short term, the market is in the bearish sentiment though it also looks like the market is passing through a period of uncertainty.
1) If the market opens between 3304 to 3330, the market may end up a white bar today but due to the performance of the market for the past 3 days, the market may also go up for a while and later may come down. The best thing to do here is to wait the market to go down after opening and put a buy here ( see my previous articles in this blog ) and sell immediately after it has gone up.
2) If the market opens between 3290 to 3303 and later moves up beating the level between 3308 to 3315, the market may go up further.Be careful here, the market may go down after going up to a certain level ( see #1 as above ).If after opening within this range and the market starts to move down passing the level between 3280 to 3277, the market may fall further down ( put a sell here )and if it beats down again the level between 3297 to 3256, the market may fall further and a black may be developed at the end of the day.
3) If the market opens between 3257 to 3281, the market may falls further and a possibility of black bar may be happening today
4) If the market opens below 3257, the market may ends up a white bar today.
Well, that is my forecast today, hope I am right!!!!
Hav a nice trading.