Wednesday 27 April 2011

CPO Futures 3343 Buy Stop Order

CPO Futures hourly indicator will remain sell 3363 unless palm oil futures price is traded 3353 and above at 1130am today.
The Buy Stop order 3343 almost being triggered just 10 minutes before 6pm crude palm oil futures market closed on Bursa Malaysia Derivatives. It just 1 tick away when the futures market traded to the high of 3342.
As for today, the Buy Stop order may be adjusted higher to 3353 which is a buy signal for 1130am indicator. Even though 1130am CPO Futures hourly indicator is assuming turn buy signal, it is still a good profit maximisation strategy for this trade which had helped to take some good profit at 3313 and 3303.