Wednesday, 20 October 2010

20oct2010 - CPO sell if 4pm 2899 or lower

Hourly CPO remain buy at 2920 and will only sell if 4pm below 2900. Palm oil cargo surveyor, SGS, said Oct 1-20 palm oil export up5 over percent at 929k MT.

If buying 2920 can sustain, target 2960 can be reached in near term since the hourly indicator didn't turn sell this morning. The 25 average cut loss point at 2895 can be set to protect unwanted losses.