Due to change of contract months, CPO Futures hourly indicator will be much affected as the discount of new 3rd contract month, August, is about 25 ticks lower against July contract month and this may directly force the indicator to turn sell signal. Therefore, traders may need to use his own trading experience to judge the market direction before the indicator does "normalize" after few bars of high low close on August contract months.
Here, traders may start monitoring both price of July and August contract months at the respectively times at 1130am, 1230pm and 4pm t0 6pm to gauge the feel of the indicator on the market which traders need to experience themselves.
If blindly follow the indicator, CPO Futures will turn sell once 1130am palm oil futures is traded below 3260.