The stop and reverse sell trade signal is still low at 1230pm which is much below than 2150. However, once cpo futures price is closed below 2180 at 1230pm, the stop and reverse sell trade signal at 4pm based on the 60-minute indicator Y will be adjusted much higher which may be just above the low of today 2167. Watch out the 4pm!
If MPOB output figures is not as low as what being estimated in the surveys, fundamental will be bearish since export is still low even having zero export duty. (It is just an opinion, not technical trend trading rules)
The Basic of Crude Palm Oil Futures Trading On Bursa Malaysia Derivatives Based On Technical Analysis.
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