Thursday, December 10, 2009
CPO : Will Slide Further?
The CPO ( Crude Palm Oil) futures for February contract open at 2526 and closed at 2526 yesterday. The highest was at 2542 and the lowest was 2502. The market ended lower with an unchanged bar.
The market open far below than the forecasted levels, so I guess no comment on this matter.
The forecast for today;
1) If the market opens between 2502 to 2512.Sell after the market has retraced passing down the levels between 2492 to 2497.
2) If the market opens between 2513 to 2520. Sell after the market has moved up 15points above the opening level.
3) If the market opens between 2487 to 2497. Sell after the market has moved up a bit and then falls 5 points below the opening level.
4) Also refer to my posting dated 12th January ( see #6)
That's about it, if you are not sure....just contact whoever you feel like to.
Have a nice trading day guys....