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Weekly CPO Forecast – 13 Jan – 17 Jan

 
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hc
Senior Member


Joined: 24 Oct 2007
Posts: 364
Location: KL, M'sia
PostPosted: Sun Jan 12, 2014 3:41 pm    Post subject: Weekly CPO Forecast – 13 Jan – 17 Jan Reply with quote
Dear Traders & Investors,

Good day everyone !

Crude Palm Oil (FCPO) on Bursa Derivatives closed lower on Friday due to contracting demands from regional markets and pulled down by soybean oil prices. The March contract closed at 2519 with approximately 28,900 contracts while preparing to roll-over this week as January month is going to expire. Technically, we foresee the downtrend will meet some bargain-hunting at 2480 levels. In case of recovery, it may stretch up to 2560 areas if shorties cover back their positions. Abandon your long-view if the selling forces break below 2480 levels.

Have a great week ahead ! Laughing
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HC
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