On Friday, CPO closed at 1830 after trying to break the 1875 Resistance. It is still too weak to go up. See the extra high volume up bard closing in the middle, the demand is just not there to support the move.

Look at crude oil..OPEC cut output to push the price up. But the effect was minimal. Unless the price could go above 50USD, else the crude oil is still in an uncertain price.

If you are trading CPO, you should still in a look out for SHORT opportunity. 1800 would be a good level to consider that decision. This is an intermediate period trade (not intraday). Remember, go with the trend and not fighting it. We’ll short while it is still in the down trend.

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