CPF : Swing trade retracement target zone at 24.50-25.50
May 22, 2011 Leave a comment
CPF has had a fine run, and it will be very much worth picking up nearer 24 or so and hopefully nearer 21 on coming weeks and months…well sometime in Q3 anyway. It looks as if it will struggle to break and hold above 30 for now, albeit possible given the election dynamic. Short from 30 or so and wait for 24.50-25.50 as the first range to cover. Some may prefer to wait for support at and near 28 to fail before turning bearish.