The cpo futures price hit 2250 high this morning and if it is traded again, some short positions may be covered to take profit for traders who short 2254 and fear to lose more. This is without following the hourly indicator Y trading guides. It may just be traders' own fear and greed!
The hourly indicator Y will still hold on its short 2254 at 4pm sessions since it is believed that the stop and reverse buy trade signal will not be triggered at 4pm that about 50 points from the high 2250. However, it will probably be adjusted much lower if the cpo futures price is kept trading high above 2240.
The cpo futures price saw its high 2275 and low 2193 after the hourly indicator Y turned short 2254. Where will be the next stop and reverse buy trade signal?
The Basic of Crude Palm Oil Futures Trading On Bursa Malaysia Derivatives Based On Technical Analysis.
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