Palm | Kelapa Sawit

The CPO ( Crude Palm Oil) futures for November contract ended lower on last Friday dated 4th September. The market open at 2218 ( see #2) and immediately fell to 2204 before shooting up and be at the top level for most of the day. So had a sell position been placed between 2008 to 2013, a loss of at least 20 points could not have been avoided. So that was what had happeded to me! Two consocutive days of losses. What a day!

Today

In long run, the market is now in bearish postion and so is the very short term. The forecast for today ;

1) If the market opens between 2136 to 2151. Sell after the market has moved up 7 points above the opening level.
2) If the market opens between 2125 to 2135. Sell after the market has retraced and passed down the levels between 2115 to 2120.
3) If the market opens between 2152 to 2161. Buy after the market has moved up and passed the levels between 2166 to 2172.
4) If the market opens between 2166 to 2177. Buy after the market has dropped a bit and then moved up 5 points above the opening level.
5) If the market opens between 2178 to 2186. Buy after the market has dropped a bit and then moved up 5 points above the opening level or buy after the market has moved up 5 points above the opening level.
6) If the market opens between 2100 to 2119. Sell after the market has moved up a bit and then falls 5 points below the opening level.
7) If the market opens other than the above, it is your call.....I am blank now.


Have a nice trading day, guys...

P/s. The new PM of Israel, Netanyahu, has made an announcement to build about 350 unit of houses in the occupied land of Pelastine. This is his first action regarding the occupied land after taking office. He is nothing but ....?!#@$%^&%$!? ( Well, that is the most that I can do....)

8.30am