Many of you may not know Crude Palm Oil Futures (FCPO) in Bursa Malaysia market: http://www.bursamalaysia.com/market/derivatives/products/commodity-derivatives/crude-palm-oil-futures-fcpo
The kind of futures allow you to sell (short) first and buy (long) back later which means you actually earn money by betting the market go down. The things is, you need a lot of technical skill to predict the direction.
From monthly chart look like CPO still have space to south support may be around 1880, if it really move further south from Monthly chart it long term TC of low should be around Jun-Jul 2013.
From daily chart 11/12/2012 will have a TC point ,if the TC point is low will be around RM2000.
Make it this way, price drop below the 2 legs short but beware of false bear place a cut lost point, if in near term go above 2445 long
Thursday, November 29, 2012
