CPO: Where To ?

The CPO ( Crude Palm Oil ) futures for August contract open at 2407 and closed at 2386 last Friday. The highest was at 2419 and the lowest was 2379. The market ended lower with a black bar and was sellers' market.

After opening at 2407,the market moved up to 2414 at 10.40a.m. and between 10.40a.m. to 11.00a.m.,the market moved between 2412 to 2418 points. The market achieved the highest of the day at 2419 before closing at 2416 to end the morning session.In the afternoon, the market open at 2413 , moved up to 2415 and then started to retrace to the lowest of the day at 2379 before finally closed at 2386.

If you refer to my forecast on last Friday, see #2, and had placed a sell position between 2411 to 2417 ( see the enclosed graph), you would have been able to make profits of between 10 to 35 points provided if you decided to close the position in the evening. If you had decided to close the position before the lunch break, you would have had your finger burnt ( anyway, you had no choice here but to wait to after lunch).

Ok, guys, that's about it.


Have a nice trading day.



P/s. Refer to a comment made on last Friday's posting, I think I would like to take a rest from making any forecast for a while ( in fact I have been considering to do so for quite sometimes )

10.59am

Reversal ?

Last Friday, based on my forecast, the market open within one of my forecasts but it did not move accordingly. For the last few days, the market has been moving southwards and will this movement be continued or will it reverse ? Hard to say, right?

Today

The forecast for today;

1) If the market opens between 2412 to 2419. Buy after the market has moved up passing the levels between 2424 to 2429..
2) If the market opens between 2404 to 2411. Sell after the market has moved up 4 to 10 points above the opening level.
3) If the market opens between 2396 to 2403. Sell after the market has retraced passing down the levels between 2386 to 2391.
4) If the market opens between 2424 to 2435. Buy after the market has dropped a bit and then moves up passing 5 points above the opening level.
5) Also refer to my posting dated 11th January, see # 6

That's about it guys, if you are not sure... well,I don't know...


Have a nice trading day, guys.

P/s Have you seen the movie, " Pirates of The Mediterranean?" - The pirates use commandos to attack civilian ships. Commandos?

8.55am

CPO Ends Low

The CPO ( Crude Palm Oil) futures for August contract open at 2473 and closed at 2456 yesterday. The highest was at 2482 and lowest was at 2453. The market ended lower with a black bar, increased open interest and was sellers' market. Theoretically, the market is said to be on the southwards movement.

Today

In long run, the market is still bearish and so is the very very short term. The forecast for today;


1)If the market opens between 2471 to 2480. Buy after the market has moved up passing the levels between 2475 to 2480.
2) If the market opens between 2462 to 2470. Sell after the market has moved up 5 to 10 points above the opening level.
3) If the market opens between 2453 to 2461. Sell after the market has fallen passing down the levels between 2443 to 2448.
4) If the market opens between 2435 to 2448. Sell after the market has moved a bit and then falls 5 points below the opening level.
5) If the market opens between 2493 and above, I would say that the market may move further up and may end a white bar today, that is it.
6) If the market opens besides the above,I do not know, up to you.
7) Also refer to my posting dated 11th January, see #6.

Anyway, if you are not sure, do not contact your dealer, just contact Netanyahu but not Obama.

That is about all.

Have a nice trading day, guys.

P/S The sinking of South Korean warship at Yellow Sea bordering North Korea last month could be the work of the Mossad or CID. The intention is to destabilise the region especially China because China is set to be the next economic and military giant of the world. What say you?

8.58am

On The Way Up?

For the past 2 days, the market has shown an upwards movement. Will this show that the market is to continue to further going up again?

Today

In brief, the forecast for today are as follows;

In long run, the market is still bearish but the very very short term, the market is bullish now.

1) If the market opens between 2458 to 2465. Sell after the market has retraced and passed down the levels between 2448 to 2453.
2) If the market opens between 2440 to 2453. Sell after the market has gone up a bit and then falls 5 points below the opening level.
3) If the market opens other than the above, it is your call.
4) Also refer to my posting dated 11th January, see #6.

That's about it.

Have a nice trading day, guys.....

P/S: The Israelis attacked the civilian Turkish Mavi Marmara which killed more than 16 people on board using the commandos and 26 war ships? What US has to say to this? What happened if there were to be Americans on board. Well, Obama cannot do anything, the president of US is Netanyahu.

9.20am