The CPO ( Crude Palm Oil) futures for December contract ended up slightly higher yesterday. Anyway the market ended up a black bar.
In long term the market is still bearish but the very short term, the market is slightly bullish. My forecast for today's market is as follows ;
1) If the market opens between 2093 to 2102. Sell after the market has retraced and passed down the levels between 2083 to 2088.
2) If the market opens between 2104 to 2114. Sell after the market has passed down the levels between 2093 to 2098 or buy if the market moves up passing the levels between 2110 to 2115.
3) If the market opens between 2116 to 2127. Buy after the market has moved up and passed the levels between 2132 to 2137.
4) If the market opens between 2132 to 2145. Buy after the market has dropped a bit and then moves up 5 points above the opening level.
5) If the market opens other than the above, it is up to you, guys....
6) Also refer to my posting dated 12th January , see # 6.
As usual, if you are not sure, just consult your dealer but never your son, he is more interested in the h/phone rather than anything.
Have a nice trading day, guys.....cheers.
P/s The picture above looks familiar just like a passport picture of someone that you know !