The Cpo ( Crude Palm Oil) futures for June contract open at 2543 and closed at 2528 yesterday. The highest was at 2546 and the lowest was at 2518. The market ended lower with a black bar. It was sellers' market with an increase in the open interest.
Yesterday the market open but not within any of the suggested forecasts.
The forecast for today;
1) If the market opens between 2525 to 2533. Buy after the market has moved up passing the levels between 2539 to 2545.
2) If the market opens between 2517 to 2524. Sell after the market has retraced passing down the levels between 2505 to 2511.
3) If the market opens between 2501 to 2511. Sell after the market has passed down the levels between 2490 to 2495.
4) If the market opens between 2539 to 2545. Buy after the market has dropped a bit and then moves up passing 5 points above the opening level.
5) If the market opens other than the above, it is simply is your call.
6) Also refer to my posting dated 11th January, see #6
Not sure? Just contact.......
Have a nice trading day, guys