Friday, 12 November 2010

12nov2010 - CPO profit target will start 3356, 3336, 3316

Hourly cpo indicator turned sell signal at 3396 at 6pm yesterday. Target profit taking will start at 3356 and every 20 ticks lower with last target at 3276 or 120 ticks the most for the first hour of trading of crude palm oil futures in Bursa Malaysia Derivatives today. Hourly cpo indicator will only buy if 1130am at 3449 or higher.