Monday 20 December 2010

Palm Oil Buy if 4pm 3509 or higher

CPO Futures hourly indicator will turn buy if 4pm at 3509 or higher. Eye on SGS palm oil export later afternoon.
Assume 4pm buy 3509, cpo hourly indicator will sell if 5pm 3502 or lower. Judging on a good profit this round, more careful trading must be taken. Refer Dec 16 update:

...If the profit is huge for the selling based on the hourly indicator, the palm oil market looks "toppish" for the next 2 weeks, and further sell down is possible.