Palm | Kelapa Sawit

The CPO ( Crude Palm Oil) futures for April contract opens at 2478 and closed at 2498 yesterday. The highest was at 2505 and the lowest was at 2475. The market ended higher with a white bar.

The market, in fact, open far too high from any of the suggested forecasts yesterday, so what can I say ? I think the statement made by one of the top gun ,the day before, from IOI probably might have helped the CPO's futures prices to end up higher. Besides than that, I think it was more of a speculative measures.

Today

1) If the market opens between 2495 to 2505. Sell after the market has gone up between 5 to 13 points from 2505 .
2) If the market opens between 2506 to 2516. Sell after the market has gone up 5 to 10 points from the opening level.
3) If the market opens between 2482 to 2494. Sell after the market has gone up 10 to 17 points from the opening level.
4) If the market opens between 2482 to 2490. Sell after the market has retraced passing down the levels between 2472 to 2477.
5) If the market opens between 2472 to 2477. Sell after the market has gone up a bit and then falls 5 points below the opening level.
6) As usual, if the market opens other than the above, it is your call.
7) Also refer to my posting dated 11th January, see #6

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


Have a nice trading day, guys....

8.21am