The CPO ( Crude Palm Oil ) futures for April conract open at 2478 and closed at 2510 yesterday. The highest was at 2519 and the lowest was at 2470. The market endded higher with a white bar.
The market did not open within any of the many forecasts as pinpointed yesterday. So no gain and no loss!
The market has been on positive notes for the past two days, will this positivity be continued today? Actually it is vey hard to forecast a market movement especially if the market still has not open yet, don't you think so ?
If the market opens between;
1) 2509 to 2519. Sell after the market has gone up 7 to 15 points above the level 2509.
2) 2520 to 2535. Sell after the market has gone up 4 to 12 points above the opening level.
3) 2595 to 2508. Sell after the market has gone up between 5 to 13 points above the opening level.
4) 2485 to 2490. Sell after the market has gone up a bit and then falls 5 points below the opening level.
5) If the market opens other than the above, it is up to you.....it's your money, who cares...( sound very harsh, right? But the truth is there)
6) Also refer to my posting dated 11th January, see #6
If you are not sure, just call your futures dealer's representative. Who else then? Netanyahoo? Obama?
Have a nice trading day, guys