The indicator Y short 2317 on FCPO is now facing more pressures after seeing the closing 2283 and high 2285 in the morning trading sessions today. This is because the indicative price will have to be adjusted lower in the afternoon trading sessions.
We still do not know whether the short 2317 will be a profit trade or a losing trade until the stop and reverse buy trade signal is triggered.
If the cpo futures price is kept trading above 2283 in the afternoon trading sessions, or even above 2300 especially at 4pm today, the stop and reverse buy trade signals will probably be published in the next post.
Therefore, watch out the 5pm and 6pm indicative prices if the cpo futures price is traded around 2300 at 4pm later today.