The CPO ( Crude Palm Oil ) for April contract open at 2464 and closed at 2469 yesterday. The highest was at 2488 and the lowest was at 2460. The market ended higher with a white bar.
After opening at 2464, the market moved up to 2488, the highest of the day, dropped a bit and lingered between 2475 to 2480 before closing at 2479 before lunch. In the afternoon, the market open at 2479 and kept falling down untill to the lowest of the day at 2460 before rebound back to finally close at 2469.
If you look at my forecast yesterday, see #3, and had you placed a sell position at 2474 ( see enclosed graph ) with the stop loss of between 15 to 20 points ( refer to my posting dated 11th January, see #6), you would have been able to make profits of between 9 to 14 points.
That's about all guys.
Have a nice trading day
8.00am
