The CPO ( Crude Palm Oil) for January futures open at 2165 and closed at 2168. The highest was at 2175 and the lowest was at 2154. The market ended lower with a white bar and it was buyers' market ( which means that the market was dominated by sellers ).
The market open within the suggested forecast but did not move according to the forecasted direction. Yesterday market's movement was in a closed range and nothing much could be expected then.
My forecast for today ( hopefully the market is not in a closed range like yesterday );
After Opening Strategy
1) If the market opens between 2165 to 2175 . Buy after the market has moved up passing the levels between 2180 to 2185.
2) If the market opens between 2154 to 2164. Sell after the market has passed down the levels between 2145 to 2150.
3) If the market opens between 2176 to 2185. Buy after the market has fallen a bit and then moves up 5 points above the opening level.
\4) If the market opens between 2145 to 2153. Sell after the market has moved up a bit and then falls 5 points below the opening level
OR ( Before 11.40 a.m.)
5) If the market opens between 2154 to 2175;
5.1 Buy after the market has moved up passing the levels between 2176 to 2180 and then falls to the levels between 2160 to 2165.
5.2 Sell after the market has fallen down passing the levels between 2148 to 2153 and then moves up to the level between 2160 to 2165.
6) If the market opens other than the above.... blah....blah...........
7) Also refer to my posting dated 12th January....blah...blah.....
Have a nice trading day, guys....blah...blah....( I have no mood and feel dull today... I don't know why.....but do you think you know ???? ... blah..blah...blah)