Tuesday – 16th December 2008
7.30 a.m. - Malaysian Time
The crude palm oil (CPO) futures for February’s contract open at 1625 and
closed at 1576 yesterday. The highest was at 1630 and the lowest was at
1570. A difference of 60 points.
The market open at 1625 and immediately moved up to 1630, the highest of
the day,and then retraced to 1598 before settling at 1603 before lunch. In
the afternoon, themarket went up to 1618 before falling down to the lowest
of the day at 1570 and finally closed at 1576. The market did not open
within the forecasted level of points, so nothing much to say here.
One thing to mention here is that you must not depend on one method of strategy only when it comes to placing
and existing a position, in fact you have to have multiple method of strategies and you must make sure that your
multiple strategies do not over lapse each other or else you may be in the position of confusion. So just do not
confuse yourself (may be you can confuse other people). The purpose of having more than one strategy is that if
the first strategy cannot be applied you could still have others to depend on. So a day of trading is not wasted.
Since the new active month for CPO futures is March’s contract which starts today, I think I better wait for
tomorrow to do my next forecasting.
Have a nice trading day.