Time To Go Up Now?

Thursday - 26th February 2009
9.05 a.m. - Malaysian Time

The CPO ( crude palm oil ) for May contract open at 1890 and closed at 1894 yesterday. The highest was at 1912 and the lowest was at 1881. The market ended a white bar.

Since the market open not within the speculated levels for the past 2 days, no further analysis of the market is to be made.

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Today

It seems that the market has already shown a little bit of an "up breakaway", the chances of the market to move further up is quite encouraging. Any way,the market direction, I think, will depend on the opening of the market today;

1) If the market opens between 1889 to 1912 :

~~~~~~1.1 Buy after the market has moved up passing the levels between 1916 to 1921.

~~~~~~1.2 Sell after the market has retraced and passing down the levels between 1876 to 1884.If the market manages to beat down the levels between 1869 to 1874, the market may fall further.

2) If the market opens between 1920 to 1937. Buy after the market has dropped a bit and then moves up passing 5 points above the opening level.

3) If the market opens between 1864 to 1874. Sell after the market has moved up a bit and then falls 5 points below the opening level. Any profits here, just lock them up.

4) If the market opens between 1875 to 1888. Sell after the market has retraced passing down the levels between 1867 to 1871. Any profits, just lock them up!

5) If the market opens other than the above, it is up to you.

6) Please refer to yesterday's forecast ( see #7 )

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That's about it. If you are not sure... I do not know what to say today.

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Some religious groups believe that only people of their own religion would go to the heaven. What about others .....? Others....? Others can go to hell!

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Have a nice trading day, guys!

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