Thursday 25 November 2010

CPO Futures Low 3179 or 3229?

CPO Futures was traded with 2 different prices of Low, one at 3179 based on charting system and one at 3229 based on the quotes on the screen. According to a dealer with the feedback from Bursa, the 3179 in February contract was traded against 3210 in January contract as a spread of 31 points which was not reflected on the screen. These, however, have no impact on the hourly indicator. CPO hourly indicator will only sell if 4pm at 3145 or lower which is still very low. Therefore, 4pm and 5pm will seem to be hard for the indicator to turn sell signal.