Saturday, June 5, 2010

CPO May Bearish Next Monday

Hi Traders,

As the CPO movement in tight range last week up and down, Low=2425 H=2482 C=2474,  it is expected the price will going down towards 2400 due to down trend of NYMEX crude oil & CBOT soybean oil. However long term trend still bearish mode. In addition expected CPO output and inventory may rise for May 2010, but still need to confirm with MPOB report on 10 June 2010. Therefore weigh the CPO price to 2400 level. If the opening price for Monday below than 2470, the price will rapidly going down towards 2440 level.

* Note: This is only my opinion based on experienced, fundamental reserach and technical analysis.

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