Tuesday - 29th July 2008
12.15 a.m. - Malaysian Time
The CPO ( crude palm oil ) for October contract open at 3120 and closed lower at 3001 yesterday. The highest was at 3162 and the lowest was at 3001.
The market open at 3120 , retraced to 3112 in a stable market movement and shot up beating the opening level to reach the highest of the day at 3162 at noon. The market then settled at 3150 before lunch break. Anyway, in the afternoon the market retraced down to settle at 3001. The daily market different was 161 points.
If you look at my forecast yesterday, ( see # 3 ), the market open between the range 3116 to 3137, as indicated in one of my forecasated areas, and had a buy position been placed after 'the market had fallen a bit and moved up 3 points from opening level', you would have made quite a good profits as the market kept moving up to the highest of the day.There would be about 40 points profits incured - unless if you had decided to sell early, you would still have been able to make some profits. Frankly speaking I was expecting a white bar yesterday.
Today
Due to some reasons, and as usual, I am not able to make any forecastings for today.
Have a nice trading day!!!!!
Monday, July 28, 2008
Monday's Tips
Monday - 28th July 2008
9.30 a.m. - Malaysian Time
The CPO (crude palm oil ) for October contract open at 3113 and closed at 3070 last Friday. The highest was at 3116 and the lowest was at 3065.
Today
In short, the market, in a very very short term, is still bearish. The forecast for today is as follows ;
1) If the market opens between 3068 to 3088 . Buy if the market beats the level between 3088 to 3095. If the market manages to beat up the level between 3116 to 3122, the market may move further up and a white bar may be formed today.
Sell if the market beats down the level between 3060 to 3068.Becareful here, the market may fall further a bit and may rebounce.
2) If the market opens between 3088 to 3116 .Buy after the market has fallen a bit and move up 3 points from opening level or buy after the market has moved up 5 points from opening.
3) If the market opens between 3116 to 3137. Buy after the market has fallen a 'bit' and move up 3 points from the opening level.
4) If the market open between 3045 to 3068. Sell after the market has moved up a bit and then falls back beating 3 points below the opening level.Becareful the market may rebounce at any time.
5) If the market opens above 3137 but below 3143. It is your call but I think the market may end a white bar today.
6) If the market opens below 3045. It is your call.
7) You can look also for a clear pattern of trendlines
8) Please refer to # 9 ( Thursday's Tips dated 26th June )
9) Also refer to # 9 & # 10 ( Tuesday's Tips dated 1st July )
That's it, my forecast. If not sure just contact your broker
Have a nice trading day!!!!!
9.30 a.m. - Malaysian Time
The CPO (crude palm oil ) for October contract open at 3113 and closed at 3070 last Friday. The highest was at 3116 and the lowest was at 3065.
Today
In short, the market, in a very very short term, is still bearish. The forecast for today is as follows ;
1) If the market opens between 3068 to 3088 . Buy if the market beats the level between 3088 to 3095. If the market manages to beat up the level between 3116 to 3122, the market may move further up and a white bar may be formed today.
Sell if the market beats down the level between 3060 to 3068.Becareful here, the market may fall further a bit and may rebounce.
2) If the market opens between 3088 to 3116 .Buy after the market has fallen a bit and move up 3 points from opening level or buy after the market has moved up 5 points from opening.
3) If the market opens between 3116 to 3137. Buy after the market has fallen a 'bit' and move up 3 points from the opening level.
4) If the market open between 3045 to 3068. Sell after the market has moved up a bit and then falls back beating 3 points below the opening level.Becareful the market may rebounce at any time.
5) If the market opens above 3137 but below 3143. It is your call but I think the market may end a white bar today.
6) If the market opens below 3045. It is your call.
7) You can look also for a clear pattern of trendlines
8) Please refer to # 9 ( Thursday's Tips dated 26th June )
9) Also refer to # 9 & # 10 ( Tuesday's Tips dated 1st July )
That's it, my forecast. If not sure just contact your broker
Have a nice trading day!!!!!
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