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
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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
