Friday, April 10, 2009

New Phase ?

The CPO ( crude palm oil ) futures for June contract open at 2165 and closed at 2269 yesterday. The highest was at 2281 and the lowest was at 2156. The market ended higher and was a white bar.

If you look at my forecast yesterday, see # 1.1, the market open at 2165, moved up a bit and then fell to 2156, the lowest of the day. The market then moved up again to end at 2228 before lunch. In the afternoon, the market kept moving up to finally settle at 2269. The market managed to pass the level 2184-to-2190 at, probably between 11.15 a.m. to 11.30 a.m. ( sorry, I forgot about the time ).

So, had you decided to place a buy here, you would have been able to make at least 15 to 35 points just before lunch.

As usual, no forecast for today

Have a nice trading day, guys!!