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Weekly CPO Forecast 21 Oct 25 Oct

 
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hc
Senior Member


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

PostPosted: Sun Oct 20, 2013 10:07 pm    Post subject: Weekly CPO Forecast 21 Oct 25 Oct Reply with quote

Dear Traders & Investors,

Good day everyone !

Crude Palm Oil Futures (FCPO) on Bursa Derivatives was capped under 2450 as predicted last week. The newly rolled over month in January 2014 delivery closed at 2402 on Friday. Resistance will continue to emerge at 2430 2450 regions in coming week since a sharp contraction in open interest was discovered on Friday. Technically, we are prone to see downtrend more likely at 2360 targets. However, breaking below 2360 levels will alert bearish sign to test 2300 levels.

Have a great weekend ahead !

On Behalf of Dar Wong.
_________________
HC
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