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Weekly CPO Forecast – 25 Nov – 29 Nov

 
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hc
Senior Member


Joined: 24 Oct 2007
Posts: 364
Location: KL, M'sia
PostPosted: Sun Nov 24, 2013 9:50 pm    Post subject: Weekly CPO Forecast – 25 Nov – 29 Nov Reply with quote
Dear Traders & Investors,

Good day everyone !

Crude Palm Oil Futures (FCPO) on Bursa Derivatives hits 12-month high record last week. Speculation for climate changes continues to push CPO prices higher due to shrinking supply. February contract closed at 2640 with approximately 42,000 contracts traded on Friday. This week, we foresee the market still has room to climb further with target aimed at 2750 levels. Support lies at S1 - 2570 and S2 - 2500 levels.

Have a great week ahead ! Laughing
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HC
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