CPO 16/2/09

At the daily chart, please take note the rising ADX has crossed with the falling D- which can be taken as another buying signal. The rising ADX which hit 21 is confirming a new trend may have already started. We would get really excited once the MACD takes out its prior peak. We are looking at 2250 and 2540 as its next target. Meanwhile keep 1905 as stops.

We take note that this is the first time that the weekly's closing price closes above the Bollinger Band since mid September, 2007 and the first time the weekly chart D+ crosses above the D- since mid July, 2008. Both the weekly Stochastic and MACD stay positive and continue to rise, it would be getting really bullish it can close above its recent high of 2058.