Thursday, April 2, 2009

CPO Export Up

Thursday - 2nd April 2009
8.25 a.m. - Malaysian Time
8.41 a.m. - A little bit of updating

The Cpo ( crude palm oil ) futures for June contract open at 2030 and closed at 2070 yesterday. The highest was at 2070 and the lowest was at 2010. The market ended higher and was a white bar.

The market open far too high from what was forecasted and it also managed to pass the 2060 level.

In normal circumtances, if the market opens higher than the previous bar and ends much higher than the last few bars ( a long bar ), the next bar , usually, may end a black bar.

As for today - using the "opening strategy" as in this blog - I think I better stay away from the market.

Have a nice trading day, guys.

P/s The Israelis are not happy with the appoinment of Nethanyahu as the Prime Minister. Why?


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