Crude Palm Oil Prices Expected To Trend Higher For The Immediate Term

CRUDE PALM OIL PRICES EXPECTED TO TREND HIGHER FOR THE IMMEDIATE TERM

Dear Friends, Associates & Graduates of the Palm Oil Master-Traders Tutorials (MTT).

Greetings!

A short note on the latest trend analysis of the crude palm oil futures market following the GMT2/5 buy-signal of 19th June.

BMD CRUDE PALM OIL SEPTEMBER FUTURES-DAILY-GMT2/5 SIGNALS

The September futures prices surged more than RM100 per tonne on 20th June on a strong wave of technical short-covering and fresh buying. The bullish-move immediately lost its upward momentum on 21st June and 22nd June with prices dropping sharply on long-liquidation and light hedge selling pressure, causing the September futures to give back all of its previous day’s excessive gains.

On Monday, 25th June, the bullish momentum returned as early aggressive buying lift values sharply higher with a opening gap-up of RM85 per tonne and settled with big-gains. The trend-tracker GMT2/5 settled the day constructive in positive divergence, suggesting that the newly developed strength is sustainable.

The big question facing traders now is can the market expand on its bullish momentum and convincingly lift prices off from its 10-week old sell-off lows?

My technical gut-feeling tells me that we are likely to see more upside trading for the short-term.

An immediate price hurdle now stands at RM3,060-RM3,075 levels and a successful punch through this resistance would clear the path for a test of the immediate term upside price-target around the RM3,175-RM3,230 levels.(see chart)

My protective trailing sell-stops at this juncture would be set at the 2,990-2975 levels in the event of additional buying.

Commodity trading is always about the BULL and BEAR, ever wondered why?

My Indonesian & Malaysian Palm Oil Master Trader Tutorials (MTT) would be held in Medan on 28th & 29th September & Kuala Lumpur on 6th & 7th July, 2012.

Please tell your friends about the Tutorials.

For registration and further details kindly check out at “register-now” at http://www.palmoil-mtt.com or contact me.

May The Good Force Be Always With You.

Kind Regards,

G.M.Teoh
012-2688121
teohgm@gmail.com

PALM OIL PRICES IS NOW IN A TREND-REVERSAL AFTER 15- STRAIGHT DAYS OF DOWNWARD MOMENTUM

Dear Friends & Associates and Graduates of the Palm Oil Master-Traders Tutorials (MTT).

They say that “the only thing certain about the commodity markets is the uncertainty!”.

Our reliable and time-tested GMT2/5 trend-tracker triggered the sell-signal on 30th May, resulting in prices entering into a three-week sustainable bearish trend.(see chart).

As of yesterday’s close (19th June), the GMT2/5 gave the buy-signal and showed that the downward momentum is over.

For the immediate term, CPO prices for the September futures are likely to trade higher and has an immediate upside-target at around the RM3,050-RM3,175 levels.

My call now is to buy with a tight good-to-cancel stop-loss at RM2,890.

BMD CRUDE PALM OIL SEPTEMBER FUTURES-DAILY-GMT2/5 SIGNALS 

The CME soyoil futures prices are in bullish convergence based on the GMT2/5 and indicated that the downward trend has come to an end. I would like to remain cautiously bullish on soyoil for the immediate term.

I can now feel the effect of EL NINO in Malaysia & Indonesia and also the adverse hot-dry weather in Midwest as the soybean crop enters into its blooming stage.

Those who left the KL POC2012 in March thinking that prices would hit RM4,000 in June, may not have their dreams fulfilled.

In commodities trading, it is very unwise to “climb-rainbows” or “jog in the dark”. When too many people believe in the same thing, nothing is likely to happen.  In the financial markets these days, “guru” is regarded as a four-letter word!

It would be better if we remain humble and be a student all the time and believe what the market is telling us about itself. Markets are never wrong – our opinions are!

Tonight, 20th June, I shall be conducting a Palm Oil Trader’s Short Course to help traders re-focus their focus. For details & registration please log on to https://palmoil-mtt.com/short-course/

The Indonesian & Malaysian Palm Oil Master Trader Tutorials (MTT) would be held in Medan on 28th & 29th September & Kuala Lumpur on 6th & 7th July, 2012.

For registration and details kindly check out at “register-now” at www.palmoil-mtt.com

or facebook page at http://www.facebook.com/pages/Master-Trader-Tutorials-MTT/165858080212473

Wishing you the best.

Kind Regards,
G.M.Teoh