MYZ >>> ZL answer your question ZL's way

This comment posted in this article / link as per below >>>

http://zlbursatheme.blogspot.com/2010/02/bulls-call-timeout-pfizer-earnings-halt.html

myz said...
hi. so, what is your idea now about fcpo? thursday closed at 2510. is it changing to uptrend now?tq.
February 4, 2010 10:54 PM

TQVM in advance myz >>> for your valued comment / query regarding CPO prices & sentiments.

This link provided is an oven fresh article published today 05/02/10 but due to lack of space ZL left out some commentaries in the first CPO SMA Crossings Chart.

http://zlbursatheme.blogspot.com/2010/02/bmd-crude-palm-oil-futures-upcoming.html

Now that myz posted a relevant question, ZL shall continue where I left off >>> There is plenty of space here mah ,,,,, HAHAHAHAHAHA !!!!

SMAs or Simple Moving Averages are the highlighted issues in the res[ective. Note the 3 crossings of the SMA 20 & SMA 50 >>> 1 Golden Cross & 2 Death Crosses >>> mid Sept 09, end Oct 09 & end Jan 10. ZL left out the Death Cross on the left of chart around mid Sept.

Let's cater to the 2 death crosses only. The 20 / 50 crossing on the left led to more downside compared to the recent crossing which shows 2 green candles but do you see the SMA 20 hooking up? Ready to recross the SMA 50?

ZL would be very cautious from here especially TODAY

When was the last time CPO delivered 3 green candles in 3 trading sessions? 4? You find the answer in the chart ........

As stated in earlier commentaries >>> Watch your exuberance. CPO had it's sunshine days from Oct > Dec last year. You really believe CPO bulls can turn it around with 3 candles. But leave some room for optimism >>> ZL is still long mindset but reality is still reality.

The 12 mths CPO chart showed prices supported by rising trendline (RED). For CPO to reclaim it's bullishness, the prices must enter the BLUE uptrend channel >>> Then you don't need ZL to tell you. You are enlightened with detail TA. What about CPO FA? Well, one day they tell you China limited buying becoz well stocked and local cpo inventories are rising. Next day they will tell you "hujan" in Sabah & Sarawak affect productions thus lower inventories. You wanna believe weathermen o forcasters or straight forward charts? ZL will put my money on the latter.

Give it a little more time to build it's strength before getting the bullish feel.

Hopefully MYZ and readers can accept my 2 sen views.

Regards

ZL