Wednesday, July 7, 2010

Thursday Trading Tip: I did It again 1000 pt in 5 days

Hi traders,

CPO closed at 2370, the lowest level this year. Bearish sentiment still strong to weigh CPO towards 2200 if supply fundamental, SO & CL no +ve news to push the price up. CPO expecting to pullback correction tomorrow if open > 2290-2295 and close > 2290. But it may downside if open < 2275-2280 and close < 2270. Today sellers were dominating the war. For tomorrow i'm expecting CPO may go to 2250 level if overnight CO & SO in bearish mood. For long term trend CPO still in downside bias towards 2250 and 2200 level.

Just my 2cents...

Happy trading 

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