CBOT Up Yesterday, CPO Today : Part 3 ?

The CPO ( Crude Palm Oil ) futures for December contract open at 2125 and closed at 2115 yesterday. The highest was at 2130 and the lowest was at 2112. The market ended higher even though it was a black bar. Yesterday was also a buyer's market. The market is still in the sideways range.

If you look at my forecast yesterday, the market open at 2125 ( see #3) and immediately it climbed up to 2130 , the highest of the day, and it then started to retrace slowly to finally close at 2115. Again, nothing happen , again, yesterday!

Today

The CBOT market for soybean oil has been moving encouragingly upwards for the past 3 days and yet the same situation did not materialise back here in Malaysia, so I would rather prefer not to enter the market at this point of time. I presume, unless the levels either at 2077 or 2192 are broken, I would just rather wait as the picture shown above.

.

.

Those who decide to enter the market today - Have a nice trading day, guys...

8.25am

CBOT UP Yesterday, CPO Today : Part 2 ?

The CPO ( crude Palm Oil ) futures for December contract open at 2115 and closed at 2103 yesterday. The highest was at 2121 and the lowest was at 2096. The market ended lower with a black bar and it was buyers' market. As for my forecast, the market open not within the forecasted points yesterday, so just let it be! Don't worry, be happy!
.
Today

It seems that the market is still in the sideways situation. A big movement and direction would occur if the levels 2077 or 2192 are broken. The forecast for today ;

1) If the market opens between 2103 to 2114. Buy after the market has moved up passing the levels between 2120 to 2125. If the market manages to beat up the levels between 2133 to 2138, the market may go further up.
2) If the market opens between 2101 to 2113. Sell after the market has retraced and passed down the levels between 2090 to 2095.
3) If the market opens between 2120 to 2125. Buy after the market has dropped a bit and then moves up 5 points above the opening level.
4) If the market opens between 2065 to 2077. Sell after the market has moved up a bit and then falls 5 points below the opening level.
5) If the market opens besides the above, I think you know what you are going to do next.
6) Please refer to my posting dated 12th January, see #6.

If you are not sure....then please be very sure...

Have a nice trading day , Mike...........cheers

8.50am

CBOT Up Yesterday, CPO Today?

The CPO ( Crude Palm Oil) futures for December contract ended up slightly higher yesterday. Anyway the market ended up a black bar.

Today

In long term the market is still bearish but the very short term, the market is slightly bullish. My forecast for today's market is as follows ;

1) If the market opens between 2093 to 2102. Sell after the market has retraced and passed down the levels between 2083 to 2088.
2) If the market opens between 2104 to 2114. Sell after the market has passed down the levels between 2093 to 2098 or buy if the market moves up passing the levels between 2110 to 2115.
3) If the market opens between 2116 to 2127. Buy after the market has moved up and passed the levels between 2132 to 2137.
4) If the market opens between 2132 to 2145. Buy after the market has dropped a bit and then moves up 5 points above the opening level.
5) If the market opens other than the above, it is up to you, guys....
6) Also refer to my posting dated 12th January , see # 6.

As usual, if you are not sure, just consult your dealer but never your son, he is more interested in the h/phone rather than anything.

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

P/s The picture above looks familiar just like a passport picture of someone that you know !

8.55am

CPO: Am I Running Out Of Luck?

The CPO futures' market for November contract ( actually it should be the December contract ) on 16th September was open not within the forecasted levels. So, as usual, there should be no comment on the matter.

The setback of using this "Opening Strategy" is that if the market opens not within one of the suggested forecasts, then a day of trading would be wasted. If this happens for several days, it would mean more days would be wasted. So it is suggested that a person should have multiple of strategies so that if one strategy does not work, he still has other methodologies to follow.

Today

As for today and a few days next week, I am going for a short days off for my Hari Raya, so I would rather feel not to do any forecast for today. Further more I could see that lately the volatility of the market has not been very encouraging.

Have a nice trading day guys.....

Selamat Hari Raya

1.00am

CPO : Sideline Again?

The CPO ( Crude Palm Oil ) futures for November contract open at 2098 and closed at 2101 yesterday. The highest was 2118 and the lowest was 2085. The market ended higher and it was a buyer's market.

Since the market open not within one of the suggested forecasts, then there was no money acquired yesterday.

Today

.

In a very short term, the market now is in the sidelines or uncertainty period. The forecast for today ;

1) If the market opens between 2095 to 2106. Buy after the market has moved up passing the levels between 2112 to 2117.

2) If the market opens between 2071 to 2082. Sell after the market has retraced and passed down the levels between 2060 to 2065.

3) If the market opens between 2108 to 2120. Buy after the market has retraced a bit and then moves up 5 points above the opening level.

4) If the market opens besides the above, it is simply your call....

5) Also refer to my posting dated 12th January, see #6

If you are not sure , just contact Cpt. Marvel....( see picture above).

Have a nice trading day everybody...........

8.00am

Cpo: Temporary Reversal?

.
Last Friday, the CPO ( crude palm oil) futures for November contract open not within one of the suggested forecasts. So , due to this, I am not going to give any comment on the matter.

Today

In short term the market is bearish now, so the forecast for today would be as follows ;

1) If the market opens between 2080 to 2097 . Sell after the market has moved up 8 points above the opening level.
2) If the market opens between 2103 to 2115. Buy after the market has passed the levels between 2120 to 2126.
3) If the market opens between 2070 to 2079. Sell after the market has passed down the levels between 2060 to 2065.
4) If the market opens between 2045 to 2065. Sell after the market has moved up a bit and then falls 6 points below the opening level.
5) If the market opens other than the above, it is simply your call......
6) Also refer to my posting dated 12th januaryt, see #6.

If you are not sure just contact Muntader al Zeidi, he might be able to help you.

Have a nice trading day, guys...

8.05am

CPO : Moving Upwards?

The CPO market for the past 2 days have shown sign of uncertainty and could be in sideline position. In this aspect, the strategy that could be implemented is to apply the mechanism of contrarian strategy which means sell where you are supposed to buy and vise versa. As usual, this strategy has its own merit and demerit. Sometimes it can happen quite promisingly, on the other hand it can happen on the other way round.

Today

In long run, the market is still bearish but the short run, the market now looks like it is in bullish sentiment. So the forecast for today should just be a short one;

1) If the market opens between 2208 to 2222. Buy after the market has moved up passing the levels between 2228 to 2235

2) If the market opens between 2228 to 2239. Sell after the market has dropped a bit and then moved up 5 points above the opening level.

3) If the market opens between 2180 to 2193. Sell after the market has retraced passing down the levels between 2168 to 2174.

4) If the market opens between 2164 to 2174. Sell after the market has moved up a bit and then falls 5 points below the opening level.

5) If the market opens besides the above, it is your call.... I simply has no more ideas, guy

Well, as usual, if you are not sure simply call the MACC ........

P/s.......

8.15am