Daily Chart : CPO Daily Correction Near
CPO has been up in May 2013 ; from the lowest point of 2230 registered on 6 May 2013 all the way to the high of 2375 on 24 May 2013 (a 145 points range).
With the price reaching the upper downtrend line and the upper line of 60 moving average, the minor correction is very near. Please refer to the daily chart.
Weekly Chart : MACD Is Making Higher Low
Weekly CPO is still doing fine consider the MACD is still moving up and making higher low.
Looking at both daily & weekly indicators, all are positive for further "north-bound" move...of course, there will be minor corrections along the way. Fundamentally, ramadan play will continue to provide the trust..
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