CPO Profit Targets July 3363 And 3383

Again due to discount and change of contract month, CPO Futures hourly indicator was actually holding buy July 3283 and had taken first profit target 3343 yesterday, and now waiting for next profit targets like 3363 and 3383 if the indicator was still using July contract month.

However, as CPO Futures hourly indicator based on new contract month, after cutting loss sold at 3242 on 16 May, it was only turned buying 3294 at yesterday 1130am. The indicator will cut loss and turn sell again if palm oil futures price is traded 3274 and lower at 1130am today. Traders may start placing profit targets like 3334 and 3354 too.

With the 2 scenario as the above elaborated, traders should now able to know that a certain approach or strategy must be taken into consideration when there is a change of contract month and discount.