Tuesday, 15 October 2013

Palm Oil 6pm Sold 2363 With 46 Ticks Profit

After turning long 2317 on Friday's last seconds spike as stated in previous few posts, technical trend indicator A had finally took profit and turned selling 2363 at 6pm close just now. It generated a profit of 46 ticks or RM1,150.00 in this short term technical trend that helped reducing the 109 ticks or RM2,725.00 accumulated losses since the beginning of this month.

The stop and reverse buy signals for Wednesday and Thursday will be in the range of 2373 to 2377. There is a new contract month, January 2014 contract month, for the 3rd active month which was closed higher at 2367 at 6pm today, but we will use the new contract month instead of old contract month for the SAR buy signals even though it was higher by 4 ticks due to the consistency on every 15th of a month where there is a change of contract month for the 3rd active month. 

Again, the SAR trade signals as given above may have been changed and will not be available on time for public viewing. Therefore, the SAR trade signals for Wednesday and Thursday may just be a guide only.

Selamat Hari Raya Haji to all Muslim cpo futures traders.