Joined: 24 Oct 2007
Location: KL, M'sia
|Posted: Sat Dec 21, 2013 9:17 pm Post subject: Weekly CPO Forecast – 23 Dec – 27 Dec
|Dear Traders & Investors,
Good day everyone !
Crude Palm Oil Futures (FCPO) on Bursa Derivates traded in sideways throughout the week. The market has mixed sentiments while influenced by weak Ringgit, export data and Dollar strength from U.S. tapering occurred last week. The new active month in March 2014 contract closed at 2587 on Friday. Technically, we foresee the coming week might be uncertain due to the year-end festive seasons amid light trading volume. Traders should observe immediate support and resistance at 2545 and 2620 levels respectively and market may trade within this range this week.
Have a great holiday session and Merry Xmas n Happy New Year !!