Thursday, July 16, 2009

CPO : Where To Now

The CPO ( crude palm oil ) futures for September contract open at 2054 and closed at 2103 yesterday. The highest was at 2124 and the lowest was at 2049. The market ended higher with a white bar.

The market open at 2054, dropped a bit to 2049, the lowest of the day, and then shot up to 2102 before closing at 2096 before lunch ( see enclosed graph ). In the afternoon, the market open at 2107 , moved up to 2124, the highest of the day, and then retraced to finally closed at 2103. If you look at my forecast yesterday ( see #1) and if you were to place a buy position , say at 2065, you would probably have made profits of between 10 to 30 points before lunch. If you decided to prolong to after lunch, you could have made extra profits of between 10 to 20 points more.

That's about it for today.

Have a nice trading day

P/s I still am facing the problem of internet connection in my area. What happens to this TM ?
They are nothing but pokemon...

3-8.30 am

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