Wednesday, 3 November 2010

03nov2010 - CPO Sell at 4pm at 3095

Hourly cpo futures cut loss turn sell at 3095 at 4pm. The hourly indicator will turn buy again if 3097 or higher at 5pm. Crude palm oil futures seems in a range trading for hourly indicator but if this sell signal is right, target can go down to 3065 or even lower. Breaking a level at 3077 will confirm its target. However, if cpo price go above 3097 at 5pm again, trading plan will be changed again. So far, hourly indicator has accumulated losses of 23 ticks.