Friday, November 13, 2009

CPO : Down

The CPO ( Crude Palm oil ) futures for January contract open at 2251 and closed at 2245 yesterday. The highest was at 2277 and the lowest was at 2240. The market closed higher but with a black bar.

The market open at 2251 and immediately fell to 2240, the lowest of the day, and shot up to 2272 before resting at 2260 before lunch. In the afternoon, the market moved further up to the highest of the day at 2277 before retracing to finally settle at 2245.
If you refer to my forecast yesterday, see #2, and had placed a buy position between 2256 to 2261, you would have probably been able to make about 10 to 15 points of profits before lunch. Had you decided to prolong your position, you could have been able to make another 5 to 7 more points of profits.

That's about it for today!

Have a nice trading day, guys....