Palm | Kelapa Sawit

The CPO ( Crude Palm Oil ) futures for January contract open at 2245 and closed at 2247 yesterday. The highest was at 2254 and the lowest was at 2232. The market ended lower with a white bar and yesterday's afternoon market was buyers' market. The open interest has also reduced indicating that investors were disposing their position.
The market open within the suggested forecast, see #1, but did not fall according to the needed points - so ,again, no action yesterday!

Today

The forecast for today;

1) If the market opens between 2247 to 2254. Sell after the market has dropped passing down the levels between 2236 to 2241.
2) If the market opens between 2250 to 2259. Buy after the market has moved up beating the levels between 2265 to 2270.
3) If the market opens between 2233 to 2243. Sell after the market has dropped passing down the levels between 2223 to 2228.
4) If the market opens between 2237 to 2247. Sell after the market has moved up passing the levels between 2248 to 2253 and then falls to the levels between 2236 to 2241.
5) If the market opens between 2220 to 2232. Sell after the market has moved up a bit and then falls down 5 points below the opening level.
6) If the market opens between 2250 to 2259. Buy after the market has moved up passing the levels between 2265 to 2270.

OR ( Before 11.40 a.m.)

7) If the market opens between 2233 to 2245. Sell after the market has broken down the level 2232 and then moves up to the levels between 2240 to 2245.
8) If the market opens between 2223 to 2232. Sell after the market has moved up to the levels between 2240 to 2245.
9) If the market opens other than the above, it is your call , Mike.....I am blank now......

If you are not sure, just call your futures dealer, who else?

Have a nice trading day, guys.......

8.58am