Sunday, August 11, 2013

Weekly CPO Is Strong

The Daily Chart of CPO broke the low (support) of 2217 registered on 13 Dec 2012. This would make it bearish market ahead if we based on support-resistant technique. HOWEVER, further examine the Weekly Chart, we would realize that CPO could be strong. The MACD of Weekly Chart has been moving upwards creating a divergent between the price and MACD. It means that we have to be very careful on the short side. 

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