The Malaysian Investment Bank said in a report that palm oil rose in early Asian trading, driven by expectations of increased Malaysian exports and lower production. Technical analysis predicts that crude palm oil futures are undergoing a consolidation phase in a broader upward trend, and trading is expected to show a bullish to sideways trend in the short term. The Malaysian Investment Bank expects the price to face resistance at RM4,683 per tonne and find support at RM4,602 per tonne. The Malaysian Derivatives Exchange's October delivery contract rose by 19 ringgit to 4,661 ringgit per tonne.
Zhitongcaijing · 3d ago
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The Malaysian Investment Bank said in a report that palm oil rose in early Asian trading, driven by expectations of increased Malaysian exports and lower production. Technical analysis predicts that crude palm oil futures are undergoing a consolidation phase in a broader upward trend, and trading is expected to show a bullish to sideways trend in the short term. The Malaysian Investment Bank expects the price to face resistance at RM4,683 per tonne and find support at RM4,602 per tonne. The Malaysian Derivatives Exchange's October delivery contract rose by 19 ringgit to 4,661 ringgit per tonne.
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