The CPO ( Crude Palm Oil ) futures for January's contract open at 2200 and closed at 2197 yesterday. The highest was at 2217 and the lowest was at 2184. The market ended higher but with a black bar. It was the buyers' market yesterday. Since the market yesterday open higher than the forecasted level, so I think it is better for me to go to the next move.
Today's market direction is quite crucial as the market shows the probablity of further up is quite encouraging.
In long run, the market is bullish and so is the very very short run. Anyway, I think, the market's performance would depend on the opening of the market today. The forecast for today; .
After opening strategy:
1) If the market opens between 2190 to 2206. Buy after the market has gone up and passed the levels between 2211 to 2216. More significant if the market opens more towards the upper part of the 2190-to-2206 levels.
2) If the market opens between 2207 to 2223. Buy after the market has dropped a bit and then moves up 5 points above the opening level.More significant if the market opens more towards the lower part of the 2207-to-2223 levels.
3) If the market opens between 2179 to 2189. Sell after the market has passed down the levels between 2174 to 2179. More significant if the market opens more towards the lower part of the 2179-to2189 levels.
OR ( before 11.40a.m.)
1) If the market opens between 2194 to 2213. Buy after the market has moved up beating the levels between 2215 to 2220 and then dropped to the levels between 2195 to 2201.
2) If the market opens between 2184 to 2210. Sell after the market has passed down the levels between 2178 to 2183 and then moves up to the levels between 2201 to 2206.
3) Also refer to my postings dated 12th January, see #6
If the market opens besides the above, as usual, it is up to you...... it's your money Mike!
If you are not sure.......just contact the PM.......the 1Malaysia guy!
Have a nice trading day, guys.....
P/s. Israel's war criminals will be charged in International Criminal Court in the Hague by UN Security Council?...Hahahahahahahahaha