The CPO ( Crude Palm Oil ) futures for Jun contract open at 2585 and closed at 2560 yesterday. The highest was at 2595 and the lowest was at 2549. The market ended lower with a black bar.
The wheather in Kuala Lumpur is still hot with the rain that sometimes falls not on regular basis.The water level in some of the catchment areas in the Kinta Valley are reported to have experienced the fall in its normal height.
Yesterday, the market open but not within any of the suggested forecasts.
Today
The forecast ;
1) If the market opens between 2549 to 2556. Sell after the market has dropped passing down the levels between 2539 to 2544. If the market manages to fall below 2523, the market may fall further down.
2) If the market opens between 2535 to 2544. Sell after the market has moved up a bit and than falls 5 points below the opening level.
3) If the market opens between 2570 to 2580. Buy after the market has moved up passing the levels between 2585 to 2590. Make sure your stop loss is about 25 points this time.
3) If the market opens between 2590 to 2600. Buy after the market has moved up passing the levels between 2605 to 2610.
4) If the market opens between 2605 to 2613. Buy after the market has dropped a bit and then moves up 5 points above the opening level.
5) Other than the above, it,s your call
6) Also refer to my posting dated 11th January, see #6
As usual, if not sure....don't do anything...or do something...
Have a nice trading day, guys...
9.13am
