Palm | Kelapa Sawit

The CPO ( crude palm oil ) futures for November contract, recently, have been experiencing a period of bearishness since the past few weeks. If you are to look for the lowest possible level to long, I would say, you may be making a lot of losses before you could really achieve the lowest possible level. If you are then able to make profits, your profits may not be enough to cover your losses. So the best thing to do is to follow strictly your what ever charts or indicators that you have in order to minimise your losses, if any.

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If you look carefully at the CPO futures' performance, the market has been influenced greatly by the movement of the crude oil at either the CBOT or TOCOM.

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Today

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In the long term , the matket is still in the bearish situation but in the very very short term, I would say the market is bullish. So my forecast for today is as follows ;

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1) If the market opens between 2450 to 2475. Buy after the market has fallen 8 to 18 points from the opening level.Be careful if the market opens and falls in a very fast and steep gradient, it could be a false alarm.Don't forget your stop loss of between 10 to 15 points. If the market beats down the level between 2433 to 2440, the market may fall further especially if the market opens more towards the lower part of the 2450 to 2475 levels. If the market, then, manages to beat down the level between 2402 to 2408, the market may fall further down.If the market opens and moves up passing the level 2484 to 2490, the market may go further up especially if the market opens more towards the upper level of the 2450 to 2475.

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2) If the market opens between 2440 to 2450. Sell if the market manages to beat down the level between 2433 to 2440.

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3) If the market opens between 2475 to 2484. Buy after the market has passed the level between 2484 to 2490.

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4) If the market opens between 2484 to 2510. Buy after the market has fallen less than 8 points and moves up beating 5 points above the opening level.

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5) If the market opens between 2415 to 2440. Sell after the market has moved up 8 to 18 points from the opening ( careful if the movement is fast and in steep gradient ) or do as above but in the opposite way ( see # 4 the bold letters). If the market manages to beat down the level between 2402 to 2408, the market may fall further down.

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6) If the market opens other than the above, it is your call. I am not sure guys.

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7) Also look for a clear pattern of trendlines such as 3 tops/bottoms, head and sholuder etc....If you are not familiar with these trendlines.... just stay away and use other methods which are convinent to you.

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8) Please refer to # 9 ( Thursday's Tip dated 26th June )

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9) Also refer to # 9 and # 10 ( Tuesday's Tips dated 1st July)

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If you are not sure, contact your broker. Never to contact your plumber. He may say CPO is just like water in the pipe. If you open the pipe longer, the water will be more ?????

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Have a nice trading day and keep smiling even if you loss your money......#@$%^&*!

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