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Weekly CPO Forecast 4 Nov 8 Nov

 
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hc
Senior Member


Joined: 24 Oct 2007
Posts: 364
Location: KL, M'sia

PostPosted: Sun Nov 03, 2013 9:56 pm    Post subject: Weekly CPO Forecast 4 Nov 8 Nov Reply with quote

Dear Traders & Investors,

Good day everyone !

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed at the highest level for this year. Buyers are concerned of weather changes that may deter harvest in coming months. The January 2014 contract closed at 2623 level amid rising volume on Friday. Technically, the market has broken above the major trend and will likely stay positive in the short term. We are looking at 2755 targets for this week which the gap was formed on 21 September last year. Immediate support lies at 2560 levels.

Have a great week ahead !
_________________
HC
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