Friday Trading Tip: CPO May test 2300 due to bullish overnight SO & CO

Hi traders

CPO closed at 2289 lvl Thursday. Its strongly pushed by S.O & C.O during Asian trading hours. CPO tested again 2300 and surge to highest lvl at 2310. It may uptrend today if CPO open >2296-2300 and close > 2305. But it may downtrend if open < 2285-2290 and close < 2285.

CPO likely to test back 2300 lvl due to bullish overnight S.O & C.O, but upside may limited. Overall trend is downside bias towards 2250.

NYMEX C.O@ 7.00am  = 75.76 (+0.32)    E-CBOT@7.00am = 36.67 (-0.14)


Just my 2cents....

Happy trading....