For the past two days, the CPO futures for January contract has shown an upwards movement and has managed to beat up the 2000 points level but can this level be able to be sustained?Today
In long run, the market is stll bearish but the very short term, the market is a little bit bullish. The forecast for today;
1) If the market opens between 2176 to 2197. Buy after the market has dropped 5 points below the opening level. Make sure this 5 points down do not beat down the level 2176. More significant if the market opens more towards the upper level of the levels 2176-to-2197.
2) If the market opens between 2165 to 2175. Sell after the market has fallen passing down the levels between 2155 to 2160.
3) If the market opens between 2150 to 2160. Sell after the market has moved up a bit and then falls 5 points below the opening level.
OR ( Best before 11.40am)
4) If the market opens between 2165 to 2195. Sell after the market manages to break down the level 2164 and then moves up again to 2188 to 2193.
5) If the market opens between 2155 to 2164. Sell after the market has moved up to the levels between 2188 to 2193.
Have a nice trading day, guys....
9.10am
