Palm | Kelapa Sawit

Bear continue to hammer the market momentum following the physiological support at 3000 violated. Prices sank to hit the fresh year low at 2861 and recovered with printed a long lower shadow candle. Gap at 2907-2885 left over on 12-13 Dec, 2007 was fully covered. We continue to look for 1st support at 2838-2840 followed by 2814-2800 (gap left over on 25-31 Oct, 2007). Resistance is remained at 3150-3160.