Thursday, 13 August 2015

Palm Oil Short 2184 - Lowest 1958, Game Over?

From the short 2184 using the indicator Y on FCPO short term technical trend trading, the cpo futures price did touch the lowest 1958 in the morning trading session today.

However, the low 1958 to the 400 ticks target 1879 is still about 80 ticks away and the cpo futures is closed above 2000 level that definitely make the indicator Y even harder to see its 400 ticks profit target hit.

If the cpo futures price is traded and maintained above today's high 2020 at next one or two hourly trading sessions, we will probably have a stop and reverse buy trade signal in a very near future based on the indicator Y trading guides.

Thus, let's see what will be the closing price at 1230pm tomorrow. Is the short 2184 having its end of the down trend, that is, Game Over?