The CPO ( Crude Palm Oil ) futures for September contract open at 2268 and closed at 2336 yesterday. The highest was at 2340 and the lowest was at 2267. The market ended higher with a white bar.The market open at 2268, immediately dropped a point to 2267 , the lowest of the day, and
then moved up to 2315 before closing at 2315 again before lunch. In the afternoon, the market kept moving up to the highest of the day at 2340 before finally settling down at 2336. ( see enclosed graph ).
If you look at my forecast yesterday ( see #1), the market open exactly at 2268 and managed to beat up the levels 2291 to 2296 at about 10.40a.m. If you were to place a buy position here as suggested, you would probably have made profits from 15 to 20 points just before lunch and had you decided to prolong in the afternoon, the profits could be from 15 to 50 points. How about me ? You may ask. Well, if you could regain your loss on the day before yesterday plus some profits, what more can you say. The market did beat up the levels between 2304 to 2310 ( see #1 ) and also move further up.
Have a nice trading day, guys....
P/s ......????
8-9.50a.m.
