CPO - Flip flop again -22//09

The market has again forced us out by retracing upward and hit the stop. Since price has now closed above the lower Bollinger Band and the Stochastic has also crossed up above its 20's signal line , so we are back in the long side of the market. Place your stop at 2135. Since the MACD is now below its own zero signal line and remains negative, and the D- is also above the D+, so I would not want to engage too big a position for longs positions.


In the weekly chart , both the MACD and the Stochastic are still negative and falling. The D- is also above the D+. With the Stochastic below its own 50's signal line and the MACD may drop below its own zero signal line, everything seem to be pointing to a bearish reading of this chart. The only item is the ADX which has now sunk below 20's, which is confirming a lack of trend in this market. With this reading, therefore you should be trading small in the daily chart.