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Weekly CPO Forecast 3 Mar 7 Mar

 
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hc
Senior Member


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

PostPosted: Sun Mar 02, 2014 9:16 pm    Post subject: Weekly CPO Forecast 3 Mar 7 Mar Reply with quote

Dear Traders & Investors,

Good day everyone !

Crude Palm Oil (FCPO) on Bursa Derivatives ended higher for the weekend. The continual rise in prices came from low inventory stock and contracted production due to dry weather. The May delivery contract settled at 2800 levels with a spike on Friday. This week, we reckon the market will march higher once it passes above 2820 and probably climb up to 2950 targets. On the other hand, turning down will find its first support at 2710 if technical correction begins.

Have a good weekend ahead Laughing
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HC
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