Thursday 23 December 2010

Palm Oil Sell if 6pm 3650 or lower.

CPO Futures hourly indicator will turn sell if 6pm close at 3650 or lower, based on high 3676.
The indicator has another good round of trade with huge profit and this month accumulated profit seems to be the best of past 12 months.

News about fundamentals remain supportive with poor weather in Malaysia and Indonesia especially at palm oil growing areas may affect output this month. Eye on Dec. 1-25 palm oil export estimates from SGS and Intertek
Agri Services after Christmas Holiday are likely to continue showing a lower figure, but the lower output should counter the impact.