KCPO - It should hold -30/11/09

Last week if you had applied the Yesterday's Low Minus 5 points to take profit method, then you would take not your profit on last Friday. Otherwise, use the upper Bollinger Band of 2430 as your stop.

At the daily chart, there is actually nothing yet to tell us to sell as MACD and ADX still continue to rise. The only item is the overbought Stochastic which if it start to fall and crosses down its own 80's signal line, there may a correction.



The weekly chart is also bullish because the Stochastic is rising above its 50's signal line while the MACD is crossing its own zero signal line. Price is maintaining above the upper Bollinger Band and the D+ is still expanding. Perhaps the most promising item is the ADX which is rising. I think CPO may be going to do its final bullish minor cycle before calling its end.

Like all other commodities, you should watch the USD closely as it may affect CPO's prices.