Thursday, August 26, 2010

Thursday Trading Tip: New Bearish Trend May Develop

Assalamualaikum....

Hi traders,

CPO ended lower at 2486 with higher volume traded. Bearish tone may continue if open < 2500-2490 and close < 2485. CPO may range bound if open > 2510-2524 and close > 2530. I'm expecting CPO may downside bias towards 2460 today. If CPO breaks 2450 today the new downside trend may develop. Take your position nicely....

Just my 2 cents....

Happy trading....

Wassalam....

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