CPO: Stuck In Between

The CPO ( Crude Palm Oil ) futures for January contract open at 2245 and closed at 2247 yesterday. The highest was at 2254 and the lowest was at 2232. The market ended lower with a white bar and yesterday's afternoon market was buyers' market. The open interest has also reduced indicating that investors were disposing their position.
The market open within the suggested forecast, see #1, but did not fall according to the needed points - so ,again, no action yesterday!

Today

The forecast for today;

1) If the market opens between 2247 to 2254. Sell after the market has dropped passing down the levels between 2236 to 2241.
2) If the market opens between 2250 to 2259. Buy after the market has moved up beating the levels between 2265 to 2270.
3) If the market opens between 2233 to 2243. Sell after the market has dropped passing down the levels between 2223 to 2228.
4) If the market opens between 2237 to 2247. Sell after the market has moved up passing the levels between 2248 to 2253 and then falls to the levels between 2236 to 2241.
5) If the market opens between 2220 to 2232. Sell after the market has moved up a bit and then falls down 5 points below the opening level.
6) If the market opens between 2250 to 2259. Buy after the market has moved up passing the levels between 2265 to 2270.

OR ( Before 11.40 a.m.)

7) If the market opens between 2233 to 2245. Sell after the market has broken down the level 2232 and then moves up to the levels between 2240 to 2245.
8) If the market opens between 2223 to 2232. Sell after the market has moved up to the levels between 2240 to 2245.
9) If the market opens other than the above, it is your call , Mike.....I am blank now......

If you are not sure, just call your futures dealer, who else?

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

8.58am

CPO : A New Breakout

The CPO ( crude Palm Oil ) futures for January contract open at 2210 and closed at 2260 yesterday. The highest was at 2273 and the lowest was at 2207. The market ended higher with a white bar and was a seller's market.

The market did not open within the suggested forecast and in fact it managed to beat up the highest of the last date of 23rd of October's performance.

Today

Theoritically, after the market has broken into a new high, the market is expected to move further high despite a few corrections along the way. Anyway, today's direction still depends on the opening of the market today.

1) If the market opens between 2235 to 2262. Buy after the market has dropped 11 points after the opening. Make sure that this 11 points down does not exceed the level 2224 and below. More significant if the market opens more towards the upper level of the 2235-to-2262 levels.
2) If the market opens between 2224 to 2234. Sell after the market has retraced beating down the levels between 2214 to 2219.
3) If the market opens between 2209 to 2223. Sell after the market has moved up a bit and then falls 5 points below the opening level. The market may fall further if the levels between 2197 to 2202 are broken.

OR ( before 11.40 a.m )

4) If the market opens between 2224 to 2240. sell after the market has broken down the level 2233 and then moves up to the levels between 2236 to 2239.
5) If the market opens between 2210 to 2223. Sell after the market has moved up to the levels between 2236 to 2239.
6) Also refer to my posting dated 12th January, see #6


Have a nice trading day, guys....

P/s I am not in a high spirit today...

8.54am

CPO: Still Sideline?

The CPO ( Crude Palm Oil ) futures for January contract open at 2221 and closed at 2190 yesterday. The highest was at 2221 and the lowest was at 2183. The market ended lower with a black bar.

The market open within one of the suggested forecasts yesterday but did not move accordingly, so no action for yesterday!

Today

The forecast for today is as follows;

1) If the market opens between 2183 to 2193. Sell after the market has passed down the levels between 2170 to 2175.
2) If the market opens between 2194 to 2200. Sell after the market has moved up 5 points above the opening level. More significant if the market opens more towards the upper level of the 2194-to-2200 levels.
3) If the market opens between 2176 to 2188. Sell after the market has passed down the levels between 2165 to 2170.
4) If the market opens between 2165 to 2175. Sell after the market has moved up a bit and then falls to the levels between 2165 to 2170.

OR ( Before 11.40a.m.)

5) If the market opens between 2173 to 2183. Sell after the market has moved up to the levels between 2188 to 2194.
6) If the market opens between 2184 to 2197. Sell after the market has broken the level 2183 and then moves up to the levels between 2188 to 2194.
7) As usual, if the market opens other than the above, it is up to you guys.....
8) Also refer to my posting dated 12th January, see #6

If not sure......do whatever you like to do.....Mike

P/s Hillary Clinton's visits to Israel and Palestine have resulted "hillarious" jokes on her mission for the peace talk....hahahahahaha...

9.00am
9.13am- a little bit of updating

CPO : Sidelines Again?

The CPO ( Crude Palm Oil) futures for January contract open at 2160 and closed at 2208 yesterday. The highest was at 2213 and the lowest was at 2154. The market ended unchanged with a white bar.

The market open at 2160 and immediately moved up without any retracement to close at 2175 before lunch. In the afternoon, the market retraced to the lowest of the day at 2154 before shooting up to finally settle at 2208. The market open within one of the suggested forecasts but did not move accordingly, so there was no action for yesterday!

Today

The market, in long run is still bearish and the very very short term, the market is said to be in sidelines. The forecast for today;

1) If the market opens between 2176 to 2190. Sell after the market has passed down the levels between 2165 to 2170.

2) If the market opens between 2154 to 2164. Sell after the market has retraced and passing down the levels between 2145 to 2150.

3) If the market opens between 2220 to 2232. Buy after the market has retraced a bit and then moves up 5 points above the opening level.

4) If the market opens between 2105 to 2115. Sell after the market has moved up a bit and then falls 5 points below the opening level.

5) If the market opens between 2165 to 2175. Sell after the market has moved up passing the levels between 2176 to 2182 and then falls back again passing down the levels between 2165 to 2170.

OR ( Before 11.40 a.m.)

6) If the market opens between 2154 to 2180. Sell after the market has broken down the levels between 2150 to 2153 and then moves up again to the levels between 2167 to 2174.

7) If the market opens between 2140 to 2153. Sell after the market has moved up to the levels between 2167 to 2174.

8) If the market opens other than the above, it is your call.......who else?

9) Also refer to my postings dated 12th January , see # 6

If you are in doubt.....simply contact your dealer..or may the oppostion leader of a polical party

Have a nice trading day........guys.....

8.45am

CPO Upwards Now?

For the past two days, the CPO futures for January contract has shown an upwards movement and has managed to beat up the 2000 points level but can this level be able to be sustained?

Today

In long run, the market is stll bearish but the very short term, the market is a little bit bullish. The forecast for today;

1) If the market opens between 2176 to 2197. Buy after the market has dropped 5 points below the opening level. Make sure this 5 points down do not beat down the level 2176. More significant if the market opens more towards the upper level of the levels 2176-to-2197.

2) If the market opens between 2165 to 2175. Sell after the market has fallen passing down the levels between 2155 to 2160.

3) If the market opens between 2150 to 2160. Sell after the market has moved up a bit and then falls 5 points below the opening level.

OR ( Best before 11.40am)

4) If the market opens between 2165 to 2195. Sell after the market manages to break down the level 2164 and then moves up again to 2188 to 2193.

5) If the market opens between 2155 to 2164. Sell after the market has moved up to the levels between 2188 to 2193.

Have a nice trading day, guys....

9.10am

CPO : Still Moving South?

The CPO ( Crude Palm Oil ) futures for January contract open at 2235 and closed at 2218 yesterday. The highest was at 2235 and the lowest was at 2205. The market ended lower with a black bar.

The market open at 2235 ( see the graph enclosed ) and immediately dropped down passing the levels between 2217 to 2222 that was at 2220. Anyway the market stablised at 2220 to 2224 for a while before moving up to settle at 2225 before lunch.

The market open at 2229 in the afternoon, shot up a bit and then fell down to the lowest of the day at 2205 and finally closed at 2218. If you look at my forecast yesterday, see #1, and had placed a sell position between 2217 to 2220, you could have been able to make profits of between 10 to 15 points if you decided to dispose the position in the afternoon ( Well, I think you had no choice here because if you were to dispose before lunch, you could have ended up poorer by a few points )



That's about it, Mike.


Have a nice trading day everybody

8.30am

CPO Direction Today

Last Thursday, the market open at 2203 which was far above the forecasted levels, so will today's market opening will show almost the same scenario? If you look at last Friday's performance on Soy Bean Oil futures ( CBOT market), the market has shown sign of retracement. Will this retracement have an impact on Malaysia CPO's market? Hard to say right? Unless if you have some kind of psychic power, off course. If you do, you could have been a millionaire by this time, don't you think so?

Today

After opening strategy

1) If the market opens between 2227 to 2237. Sell after the market has dropped to pass down the levels between 2217 to 2222. If the market manages to pass down the levels between 2200 to 2204, the market may fall further down.

2) If the market opens between 2238 to 2247. Buy after the market has moved up passing the levels between 2248 to 2253. Be careful here as the market may fall back in due time.

3) If the market opens between 2215 to 2226. Sell after the market has moved up a bit and then falls 5 points below the opening level.

OR ( before 11.40 a.m )

4) If the market opens between 2227 to 2247.

4.1 Buy after the market has moved up beating the levels between 2248 to 2252 and then drops to the levels between 2234 to 2240.

4.2 Sell after the market has dropped passing down the levels between 2221 to 2226 and then moves up to the levels between 2234 to 2240.

5) If the market opens between 2248 to 2260. Buy after the market has fallen to the levels between 2234 to 224o.

6) If the market opens between 2213 to 2226. Sell after the market has moved up to the levels between 2234 to 2240.

7) As usual, if the market opens other than the above, it is your call....

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

If uncertain, just contact your dealer, who else? Your uncle?

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

P/s Cross your fingers this time, Mike....

8.30am