FCPO set their biggest weekly gains in more than 9 months despite a sharp drop on Friday, as Russia’s attack on Ukraine stoked worries about global edible oil supply. I believe who traded last week hopefully you were enjoy the roller coaster ride in the market. For your information, Ukraine is a major key supplier of grains and oilseeds globally, any further...
FCPO closed higher at 5539 after gap filled at 5612 by last Friday but posted weekly losses. What were the factors that caused crude palm oil prices struggling to maintain above 5800? 1. India reduce farm infrastructure tax on CPO to 5%, which will effective until Sept 30, with the objective to increase gap between CPO and refined palm oil to benefit the domestic...
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 oil prices closed higher at 5628 after hit historical high at 5639. Factors continue to affect palm oil prices: 1. Indonesia finalize their export restriction plan which set 20% local supply rule for palm oil exporters effective from last Thursday (27 Jan 2022). Government also implement price cap on local sales of CPO and palm olein, effective from 1st Feb...
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 extended gains and closed higher at 4697 Technical view: Market holding well at 4600 Market likely to move within the range of 4600-5220 Stochastic level: Market move towards mid level which indicates sideway range signal in the market Suggestion Trade: Market expect to move in range to upward bias ahead of Malaysia Palm Oil Board data release (10...
Dow touched on 36446 & 36408, formation of double top in the making?? Monitor closely for 36113, if market break yesterday, market likely to have a reversal signal for short term downtrend. Besides, stochastic also about to crossing down, which signal selling sign. Suggestion Trade: Aggressive strategy: initial Short at current level 36350-36100 stop loss...
Crude oil facing strong resistance level at 76.45. 1. if market broken yesterday low at 75.53, market likely to have short term bearish signal. 2. stochastic level right at overbought level. expected to have reverse action or so call profit taking from recent surged. suggestion trade: Initial short at current level stop loss (resistance level) 76.50 target...
Palm oil closed bounced and closed sharply higher at 4649. There were several factors that keep CPO prices higher: 1. Upcoming CNY in Feb 2022 raising expectations of fresh buying by China 2. Stronger soybean oil prices due to hot and dry weather concerns that threaten crops prospects in South America. 3. Malaysia keep export duty at 8% for January 2022. 4....
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...
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...