CPO Futures Sell 3830 at 1230pm

CPO Futures hourly indicator turned sell 3830 at 1230pm. Profit 67 ticks. 

The indicator will cut loss turn buy if 4pm at 3845 or higher.

Bursa jtrader system was facing the "intermittently disconnection"  which affected order entry at broker system for the morning trading session. 

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 Futures Sell if 6pm 3817 or lower

Palm oil futures for hourly indicator will turn sell if 6pm close at 3817 or lower, based on the high 3861.
The target of 100 ticks at 3863 almost hit in the afternoon trading session. If you wish to protect some of your profit, reduce some of your buying positions by putting sell stop at 3843.

CPO Futures Sell if 4pm 3796 or lower

CPO Futures hourly indicator will remain holding buy 3763 unless 4pm at 3796 or lower.

Palm oil price had hit the 80 points target at 3843, if the 100 points target at 3863 not hit in afternoon session especially after 5pm, some profit taking should be initiated.

Palm Oil Futures Sell if 1230pm 3790 or lower.

CPO Futures hourly indicator will turn sell if 1230pm at 3790 or lower, based on high 3850.

Palm Oil Futures Will Remain Buy 3763

CPO Futures hourly indicator will remain holding buy 3763 unless 1130am at 3748 or lower.

20oct2010 - Oil tumbles as dollar up after China surprise rates hike

Crude oil prices in Nymex for November contract month tumbles $3.59 or 4.32 percent at $79.49 as a stronger dollar hit the commodities market making dollar denominated oil more expensive. China central bank, People's Bank of China, raised interest rate to slow its economy from overheating on its property prices and inflation at 5.56% from 5.31%.

With such a bearish sentiment, cpo futures will be affected unless the Oct1-20 palm oil export is much better than expected earlier.