25oct2010 - Can CPO Futures Sell Down Below 3050 at 5pm Today

Hourly CPO Futures created another new high above 3080 in the afternoon session. Hourly profit will be remain good for this trade with its breaking 80 points of profit target at 3081 even though the hourly technical indicator is now at overbought zone. With such momentum, next target of 3101 may be in the making for late evening today, or tomorrow morning session if soybean oil up in tandem.