Saturday, June 22, 2013

CPO Daily Potential Correction - Weekly In Sideways

Daily Chart Watch : 
It looks like the price of CPO (Aug 2013) is holding well above the up trend line (blue line) and closed at 2438. Technically speaking, the resistant of 2505 is rather strong for now. Unless it can break above the high, CPO still has high chance fro correction. 
Weekly Chart Watch : 
CPO has been in consolidation for more than 37 weeks. This is quite unusual. The market always does what it pleases. We just have to watch and wait patiently. 

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