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Weekly CPO Forecast 23 Sep 27 Sep

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

PostPosted: Sun Sep 22, 2013 1:03 pm    Post subject: Weekly CPO Forecast 23 Sep 27 Sep Reply with quote

Dear Traders & Investors,

Good day everyone !

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed lower on last Friday with approximately 21,000 lots contracts. The December contract settled at 2297 at contracting demand amid higher inventory. This week, we reckon the trend may be lower at 2200 while resistance emerges at 2350 levels. Stay tune to Monday's Manufacturing PMI in China as this could decide the downtrend or a reversal according to our aforementioned prices.

Have a great weekend ahead ! Laughing
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HC
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