Friday, 7 November 2014

Indicator Y Short 2254 - Day 3 And 6pm Trade

Target cpo futures price 2205 hit even though crude oil never reach 77. The selling with 2000 lots queuing near 2200 can probably stop buyers from support 2200 level if the sellers' size is genuine.

MPOB will release the official palm oil supply and demand figures on Monday and it may be a bearish figures since the sell down has volume today!

The hourly indicator Y short 2254 will have to hold to Day 4 since it is believed that the stop and reverse buy trade signal will not be triggered at 6pm close today.