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Weekly CPO Report 5-May till 9-May 2014

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

PostPosted: Sun May 04, 2014 12:05 pm    Post subject: Weekly CPO Report 5-May till 9-May 2014 Reply with quote

Dear Traders & Investors,

Good day everyone !

Crude Palm Oil (FCPO) on Bursa Derivatives settled lower on weekly basis due to weakening exports. The July contract ended at 2591 on Friday amid mild short-covering. Technically, we reckon the market may conduct sideways consolidation in coming week with resistance acting at 2630 2645 regions. Upon breaking 2570 supports, new selling forces will step into market and derive the demand down to 2500 regions.

Have a great week ahead ! Laughing

On Behalf of Dar Wong.
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