Tuesday, 3 December 2013

Key Indicator Sell 2634

As mentioned yesterday, cpo futures based on hourly key indicator had its stop and reverse sell trade signals being initiated either 4pm, 5pm or 6pm; and, it was the 5pm at 2634 that triggered the sell short signal with 6 ticks of losses against its previous long 2640.

It is now holding on the short 2634 with stop and reverse buying signal in the range of 2649 and 2652 for the next 5 hourly trading sessions. If the cpo futures price is remained below these stop and reverse buy signals level today (they may be lower if prices keep falling below 2602), the stop and reverse buy signal will mostly be adjusted lower which will only be updated if time permitted for next write-up.