FCPO declined by nearly 8% on last Friday and closed at 6276 as profit taking took place, but posted 2nd weekly gains after touched on historical high at 7108. So, what’s make palm oil now the costlier edible oil among the 4 major edible oils? Global commodities rallied following EU bans certain Russian banks from SWIFT bank payment system which aimed to...
Market closed slightly higher at 5573 last Friday after tighter range move. Some key factors continue to weigh on palm oil prices: 1. Indonesia had expanded its export permit requirement for palm oil products where exporters must sell 20% of their exports at home and with price cap to other derivatives. This further raising fears of global supply disruptions. The...
Palm Crude Oil Futures FCPO short-term still looking bullish. Profit Chip of PFT indicator at 38%, if surpass 50% greater chance to reach upper trend line resistance @5500 Bull Bear Energy (BBD) indicator show Dark Green bar turning into Light Green (momentum turns weak) - short term correction on way. #fcpo #fcpo1! #bursasaham #palmoilfutures #commodities...
Palm oil prices gone up higher as expected and closed at 5322 after posted record high at 5327. Factors continue to affect palm oil prices: 1. New export permit policy in Indonesia which required exporters of vegetable oil to gain approval for their shipments and declare their domestic sales with the objective to ensure that sufficient supply of cooking oils in...
Palm oil prices posted gains and closed at 5123, after touched on resistance at 5164. For your information, FCPO January contract expired last Friday. Next Monday onwards will be started to trade on FCPO April contract. Factors continue to affect palm oil prices: 1. Market remained concerns over labour shortages which caused lower palm oil production. 2. Price...
Palm Oil prices extended gains and closed sharply higher at 4993. As market eyeing on upcoming MPOB data to assess the impact on production from flooding in recent weeks disrupting harvesting activities . MPOB data is scheduled to release its Dec data on Monday. Factors continue to affect palm oil prices: 1. Ongoing flash floods in several states continue to...
Palm oil prices slumped and closed at 4408. Last week palm oil prices broken support level at 4700 and touched on weekly low at 4245. There were several factors we can look into: 1. Market plunged about 4.5% on Wed after cargo surveyor reported larger than expected drop in export 2. Price movement in global vegetable oils market also affected palm oil prices 3....
Palm oil prices closed higher and back to the range of 4700-5200. Several Factors that make the palm oil prices back to the range of 4700-5200 as below: 1. Weakness in soybean oil after US raised proposal to scale back biofuel blending mandates 2. Shortage of Workers due to coronavirus pandemic & higher cost of recruitment as palm oil producers make changes in...
Palm oil plunged as expected last week. Market hit weekly low at 4567 and closed at our 1st resistance level. Main reason of the weakness in CPO market due to the uncertainties over the impact Omicron coronavirus variant which dented demand for CPO. Technical view: 1. Immediate resistance level: 4700-4730 2. Stochastic level= Sell Signal remain Suggestion...
Palm Oil market has been ranging for the past few weeks: Reasons behind as below: 1. Rising in new COVID-19 cases in Europe (- export demand= price drop) 2. Weakness in Crude Oil and Soybean Oil (- demand= price drop) 3. Weather concerns (- supply = price up) 4. Labor shortage (- supply = price up) 5. RM weakening (+ demand = price up) Technical View: 1. Strong...
Palm oil markets has been ranging between 4750-5220 since Oct 2021, topics remained hot within the palm oil industry including 1. labor force shortage, 2. global supply and demand concerns amid resurgence in COVID-19 cases especially in Europe. Uncertainty in 3. related edible oil due to weather concerns and 4. OPEC+ decisions to maintains its output which...
Price yesterday close is very extreme pullback. So, price today will back to back and bring new hight till the week end. But beware it could flip back downward after reach the high as shown at chart.
Palm oil bounced as bargain buying and persistent sentiment of tight supply moving into Nov and Dec. Technical Views: 1. CPO prices landed at support level of 4500 and bounce 2. Uptrend Line Well holding 3. Stochastic maintain uptrend signal In short, maintain ranging to uptrend view in coming week. immediate support level 4500 immediate resistance level...
FCPO formed hammer at immediate support level at 4750 by last Friday and bounce following MPOB data today. MPOB data showed flat to lower production and extended labor crunch slowed harvesting activity continued. Technical view, 1. touched support level at 4750 and bounced 2. hammer formed at support level 3. stochastic at oversold level Can seek for long...
Palm oil range lower as market remained cautious ahead of export data and MPOB data release. However stronger rival oils and global supply concerns remained support. Palm oil range: 4800-5100 Stochastic level at 50.00 indicates market direction remain uncertain.
Palm oil prices remains at 5,000 last week. As market remained concerns over low production and inventories due to labor shortage. However, reducing in export demand capped gains. Market likely to move within the range of 4750-5250 in near term, until market break from the price range and sustain above 5250 or below 4750, then follow by new direction. While...
Palm oil prices remained strong due to rising in export demand while labor shortage, lower productions and inventories issues remained. Palm oil market major trend remained UP. However, near term likely to move within the range of 4950 (support) -5250 (resistance). Strategies to apply: Long when near Support level Short when near Resistance level With...
FCPO price almost reaching wave (3)(Cyan/Light Blue) at around 5300 .. price may have deep correction soon before final leg up wave (5)(Cyan/light blue)