CPO Futures Hit Low 3370

Technically, all the three daily indicators will remain their respective short positions and let the profit run since the stop and reverse buy signal will be very high for today based on the closing price.

Trades Being Affected Due To Change Of Contract Months

This month accumulated losses has artificially overrun taking into consideration of about 25 ticks discount and wrong signal entry and exit due to change of contract month which can cause more than 100 ticks on wrong input. Knowing such kind of weakness in technical indicators, traders may need to adjust own trading strategy even though follow blindly the system may be the best solution for traders who do not have strong discipline on trading.

Here is the best example where CPO Futures hourly indicator turned sell 3242 artificially due to change of contract months and over 25 ticks of discount, which by right the signal is still remained buy signal and hold. If still holding, the indicator is having about 20 over ticks of floating profit now marked to market price but here it incurs another loss of about 2o over ticks. To and flow, the losses may be more than 100 ticks if calculated in details.

CPO Futures Sell If 1130am Below 3260

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.

Palm Oil Will Remain Sell At 6pm

CPO Futures hourly indicator will only cut loss and turn buy if 6pm at 3889 which is being adjusted higher after 5pm sold down to below 3800.
Selling confidence may have established for short term.

Palm Oil Sell if 1130am 3871 or lower.

Based on high 3905, cpo futures hourly indicator will cut loss and turn sell if 1130am at 3871 or lower.
Due to high volatility of palm oil futures prices, never put a stop loss order before market open if you are following this hourly indicator. Place the stop order only after market open.
Yesterday price feed problem had damaged all the short term charting on service provider unless you did keep tracking on your own data like what in this blog does on the page " CPO Hourly Indicator ".

CPO Futures Buy 3888 at 6pm

CPO Futures hourly indicator cut loss and turn buy at 3888 at 6pm close.
If buy stop 3855 is placed, 33 ticks of further losses can be saved.

CPO Futures Buy if 6pm 3843 or higher

CPO Futures hourly indicator will cut loss and turn buy if 6pm close at 3843 or higher.
The buy stop at 3855 can be placed to protect selling 3830 from further losses.

Palm Oil Futures Sell if 1230pm 3839 or lower.

CPO Futures hourly indicator remain buy 3763 unless 1230pm at 3839 or lower which the indicator will turn sell signal.

Palm Oil Sell if 1130am 3825 or lower.

CPO Futures hourly indicator will take profit and turn sell if 1130am at 3825 or lower, based on high 3861.

CPO Hourly Indicator For Year 2011

Please be informed that the page for "CPO Hourly Indicator" had been adjusted for year 2011. However, it is still backdated and started from October 2010 for easy reference.
CPO Futures Hourly Indicator performed very well in November and December 2010 with accumulated profits over 500 ticks in 2 months.

Target Hit

Since hourly cpo turned buy at 2686 at 5pm on 5 oct 2010, cpo price hit 2786, it 100 pts target today in just 2 days.