The CPO ( Crude Palm Oil ) futures for April contact open at 2559 and closed at 2563 yesterday. The highest was at 2566 and the lowest was at 2553. The market ended higher with a white bar.
The volatility movement of the market was quite small though the volume was reasonably high.
The market open within the forecasted level but not its direction.
1) If the market opens between 2551 to 2560. Sell after the market has fallen passing down the levels between 2544 to 2549. More significant if the market opens more towards the lower level of the 2551-to-2560.
2) If the market opens between 2555 to 2566. Sell after the market has moved up between 5 to 15 points above the level 2570.
3) If the market opens between 2532 to 2545. Sell after the market has gone up a bit and then falls 5 points below the opening level.
4) If the market opens other than the above, as usual, it is your call.
5) Also refer to my posting dated 11th January, see #6
If you are not sure, contact your futures representative but..... not the judges who have conducted the "Zamry and his Perak's government" case.
Have a nice trading day, guys.