Friday, 7 November 2014

Indicator Y Short 2254 - Day 3

The crude palm oil futures had a range of 58 points from the high 2275 to low 2217 yesterday that made the short 2254 from a floating loss of 21 points to floating profit 37 points based on the short term technical trend trading using the hourly indicator Y trading guides.

There is still no sign of stop and reverse buy trade signals on Day 3 today's morning sessions and it is very important to see cpo futures prices trading below 2200 in order to encourage more selling pressure that break below the first target line as mentioned in previous post.

News excerpts:
* Survey from Bloomberg had quoted October end month stock increasing to 2.14 millions tons while production and export fell.
* Indonesia palm oil FFB yield 3.77 tons/ha in year 2013, 5.01 tons/ha in year 2025 through replanting activities, using more advanced planting materials, tissue culture which are higher yielding, resistant to disease according to Daud Dharsono, president director of PT Sinar Mas Agro Resources and Technology, or PT SMART.