Palm | Kelapa Sawit

Market traded in yo-yo manner and directionless following prices ended in negative territory today after yesterday of 10% daily limit up. Looks market is entering back to a consolidation mode again. We now look for the immediate upside resistance at 1666 followed by 1727-1734 (gap left over since 15 Oct, 2008). For downside, support is at 1539-1546 (gap left over since 31 Oct, 2008) followed by 1441-1491 (gap left over since 29 Oct, 2008).