Palm | Kelapa Sawit

CPO futures ended mix to steady in choppy trading session. Short-covering activities sent prices recovered from early low at 1801 and rebounded to hit intra-day high at 1892 (+72 from yesterday's settlement) in the early part of the second session. Some players were having the opinion that Dow Jone's Industrial average may rebound tonight and this may lift the crude oil prices had prompted short-covering as well as speculative buying in BMD. Technically, the market also try to cover the gap between 1880 to 1934 which left over yesterday. It managed to cover partially and ease off due to lack of follow through buying support. Then, prices hovering between 1820 to 1860 before it settled RM30 higher at 1850. Daily volume remains good with 19,393 contracts changed hands.