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Weekly CPO Forecast – 11 Nov – 15 Nov

 
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hc
Senior Member


Joined: 24 Oct 2007
Posts: 364
Location: KL, M'sia
PostPosted: Sat Nov 09, 2013 8:59 am    Post subject: Weekly CPO Forecast – 11 Nov – 15 Nov Reply with quote
Dear Traders & Investors,

Good day everyone !

Crude Palm Oil Futures (FCPO) on Bursa Derivatives closed lower on weekly basis after turning down from 2632 highs last week. Profit taking was seen in the market pries softened. January 2014 contract closed at 2506 with approximately 28,000 contracts. This week, we foresee the market will be supported at 2460 - 2480 regions while upside may re-test 2600 levels. The market could be prone to trade sideways with uncertainty but short-view needs to be abandoned if the price shoots above 2632 highs.

Have a good weekend ahead ! Laughing
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HC
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