Palm | Kelapa Sawit

Friday - 28 March 2008
12.25 a.m. - Malaysia time zone

The market open at 3640 and also closed at 3640. The highest was at 3670 and the lowest was at 3555.

Just like I mentioned yesterday, ( refer to #1 ), after opening at 3640 and at about 11.00 a.m. , the market went up to the highest level at 3670. There was a trendline pattern established here but the pattern ( 3 tops ) was not a clear one ( in this respect , experience is important ). Had a sell been put here, a very handsome profits would have been made.After passing the level 3585, the market did bounce back at 3556 , just like I forecasted yesterday, and later moved up to the closing of the day at 3640. I expected the market to be at least a small black bar since it did not break the level between 3545 to 3530. The closing ,according to candle stick, is said to be in the indecision situation.

There was a very clear but a big pattern of 3 bottoms formed at about 4.00 p.m. Those who had put a buy here and the stop loss of between 10 to 15 points might have suffered a loss but if a bigger stop loss had been placed between 10 to 25 points, then a very handsome profits could also have been able to be made.

Today

For some reasons, I am not able to make any forecast today.

Have a nice trading!