Tuesday, 16 August 2011

Palm Oil Futures Sell 3032 Remain

Due to change of 3rd active contract month, this round CPO Futures hourly indicator had been helped by huge discount of palm oil futures prices and initiated sell signal earlier at 1130am this morning. Without this, the hourly indicator will only turn selling at 4pm just now which was much lower as compare to 3032 selling in the morning.
The hourly indicator will remain selling signal since it is very hard to turn buy signal for 5pm at above 3080, even 6pm signal will remain selling if palm oil futures price is remained at current level.