Palm | Kelapa Sawit

Market violated the resistance at 2170 convincingly following gap at 2122-2140 was covered. A sharp rebound had helped to cushion the market downside move and neutralised the overall daily technical landscape. Thus, market may move sideways and consolidate in near term. To the upside, resistance is looking at 2200-2220. While, downside support is pegged at 2119-2122 (leftover gap on 16/9/2009).