Sunday, January 16, 2011

Monday Trading Tip: Bulls or Bears

Hi traders,

April11 Contract: CPO ended lower on Friday at 3639lvl. Inverted hammer candle formed. Hoping of bulls to come. Is it bears will continue or bulls will start to kick-off? Let we see..... CPO seems to test back  3600-3650 level. CPO may upside bias if open > 3635-3655 and close > 3650. It looks like CPO in bearish tone if below 3635. If open below <3635 and close <3620  the bearish tone may take place. Major trend is upside bias with pullback corrections. If CPO breakout 3700lvl, the trend may continue for strong bullish tone towards 4000. I'm expecting CPO may play 3620-3680 tomorrow. Pls take your position nicely...

Happy trading & Wassalam...

Just my 2cents

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