FCPO (weekly Chart)
The benchmark price of crude palm oil(CPO) recorded a 4 days up and 1 day down throughout the week closing the week 3516 points, up 242 points, a 7.4% month on month. CPO prices has been heading higher month over month since the ascending triangle breakout on October. CPO are expected to remain strong and volatile at least in the near term amid agressive speculations. Open interest was higher compared to the week before signalling stronger outlook from the market players.
Resistant : 3550
Support : 3450
No comments:
Post a Comment