Although FCPO daily chart looks like on Viagra, LOL!, the over extension is pretty much getting on the nerves of bullish traders. It will not go up forever. You know it, and they know it. Any slight justifiable reason will be the reason for profit taking.
Open interests reduced from 22K to 21K level, smart players have left the room? We don't know, but today it's going to be interesting to see how the market will react to the latest CPO statistics.
P/S: What happen to FKLI? Very few opportunities for me nowadays. I am Long bias but it does not have enough volatility for me to short-term trade. And the risks/rewards of trend trading FKLI don't quite convince me take up any longer-term position yet. So... it's ok to do nothing for now. LOL!
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