CPO Futures hourly indicator turned selling at 6pm on Friday at 3748 with a profit taking of 78 ticks ( or equivalent RM1,950.00 per contract ) against the early buying at 3670. SGS gave a weaker palm oil export data than Intertek might be the cause of profit taking otherwise the indicator would remain buy signal.
Today, cpo futures hourly indicator will cut loss and turn buy if 1130am palm oil price at 3772 or higher.