Futures

A contractual agreement, generally made on the trading floor of a futures exchange, to buy or sell a particular commodity or financial instrument at a pre-determined price in the future. Futures contracts detail the quality and quantity of the underlying asset; they are standardized to facilitate trading on a futures exchange. Some futures contracts may call for physical delivery of the asset, while others are settled in cash.

** Source from: www.investopedia.com

Wednesday, September 9, 2009

Palm Oil On Intersection?

Daily 1-Year


15 minute chart


FCPO was quite strong in bulling today also but could not pass the resistance of 2220 leaving it's support untouched at 2125. Although crude oil raised 4% but the palm oil could not up-bring itself up to a positive zone. What happened could be certain speculators on the daily 1-year chart as it still shows a down trend. What ever the reason is, it clearly indicates some kinda weakness in bulling

My Opinion: Same like yesterday, hold a short position and put a stop loss at 2280

**Chart from OSK's 188OMS
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