Monday, 18 November 2013

Sell If Palm Oil Below 2584 At 1230pm

CPO futures short term technical trend indicator on hourly trade will do a stop and reverse sell once the cpo futures price is closed below 2584 at 1230pm today. It was holding on the long 2562 since 12th November as stated in previous post and we had seen the prices reaching high 2627.

If it is turned short at 1230pm, the stop and reverse buy signals in the afternoon trading sessions will be at 2590, 2592 and 2596 at 4pm, 5pm and 6pm respectively; or else, the prices in the afternoon will turn to be the stop and reverse sell signals. The long 2562 will remain if cpo futures prices keep trading above all the stop and reverse trade signals as given here.