The hourly indicator Y long 2278 will have to cut loss and turn selling if cpo futures price is traded 2230 or lower at 1130am later today. This is without taking into consideration of any higher high or lower low trade data.
Will it be the biggest losing trade of the year 2014 as mentioned in previous post?
When a trade is holding in a short period in technical trend trading, it will always be in a losing end - short life! The long 2278 that last only 3 days will probably cut loss turn sell today and will be a the good example and lesson to learn for novice technical trend trader.
Based on previous posts, a simple assumption of crude oil and palm oil price comparison, crude oil now near 74, palm oil will be heading 2119!? The cpo futures price last closing price was 2232 but was settled at 2231, and the difference is more than 110 points! Where will be the cpo futures price in near future? If based on the spot month price 2191 yesterday, it will be not far away, but if based on 3rd active month, there is another 2% different between 2232 and 2191!
The Basic of Crude Palm Oil Futures Trading On Bursa Malaysia Derivatives Based On Technical Analysis.
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