Wednesday, September 9, 2009

CPO : Straight Losses

The CPO ( Crude Palm Oil ) futures for November contract open at 2141 and closed at 2210 yesterday. The highest was at 2210 and the lowest was at 2135 . It was the buyers' market and it ended higher.

So, if a sell position was placed yesterday at 7 points above the opening level as suggested by the forecast, one would ended up losing some money. Yesterday also indicated 3 consecutive days of losses. What more can I say, man.


I think I better refrain from making any forecast for today

Have a nice trading day, guys..