The CPO ( Crude Palm Oil) futures for October contract open at 2128 and closed at 2140 yesterday. The highest was at 2158 and the lowest was at 2109. The market ended lower and was a black bar.Yesterday the market open within one of the forecasted levels but did not move accordingly. As usual, no comment.
Today
In long run, the market is still bearish but the short and medium terms, the market is bullish now. The forecast for today ;
1) If the market opens between 2109 to 2118. Sell after the market has retraced to pass down the levels between 2100 to 2105. If the market manages to fall down the levels between 2075 to 2080, the market may fall further down and it may end a black bar today or at least in the early part of the trading day.
2) If the market opens between 2119 to 2128. Sell after the market has moved up 5 points after opening level. Be xtra careful of the false alarm and do not forget your stop loss.
3) If the market opens between 2129 to 2138. Buy after the market has moved up and passed the levels between 2143 to 2148. If these levels are broken up, the market may go further up.
4) If the market opens between 2085 to 2104. Sell after the market has moved up a bit and then falls 7 points below the opening level.
5) If the market opens between 2139 to 2150. Buy after the market has retraced a bit and then moves up 6 points above the opening level or buy after the market has moved 6 points above the opening level.
6) If the market opens besides the above....it's your move....or may be you can go out and watch The Room - voted to be the Best Worst Film Ever Produce.
7) Please refer to my posting dated 12th January ( see #6 )
If not sure....then you are not sure..what else!
Have a nice trading day, guys/ gals...
P/s - Have u seen The Room? People are flocking to the theatre, in US, to watch this Best Worst Film ever produced.
3-9.01am
