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Daily prices remain below the lower Bollinger Band which is confirming CPO's overall bearishness. Take note the MACD has just crossed down its zero signal line which is a more bearish signal. The daily ADX has turned flat at 25's the last 2 days which may be signaling the beginning of a new trend.
Place stop at 2492.
The weekly chart is getting more bearish as we have 2 consecutive bars closing below the upper Bollinger Band. The Stochastic has now crossed down its own 80's signal line which is offering another sell signal. The MACD is now hooking around downwards but it is still positive. Watch 2358 for some support, otherwise breaking down below that level would bring out more selling.
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