Tuesday, 6 May 2014

1130am CPO Futures Sell 2566

The hourly key indicator had finally cut loss and turned selling at 1130am just now. It incurred 24 ticks losses against the long 2590 and turned selling 2566 at the day low. The accumulated profit for the month of May has been reduced to 41 ticks now after deducting the 15 ticks of losses.

The hourly key indicator will hold on the short 2566 from now on unless the cpo futures price is closed above 2586 at 1230pm in the next one hour trading session. So, readers traders should know that once the cpo futures is closed above 2586 at 1230pm, they have no choice to cut loss and turn long again at 1230pm; or else,  hold on the short to the next trading session in the afternoon 4pm which I will give my comment again one hour in advance before 4pm.