Palm | Kelapa Sawit

Market violated the recent high at 2606 levels and close off the weekly high had beautified the immediate technical outlook to bias upside potential. Hence, we maintain our view to move higher in near term with upside resistance looking at 2650 followed by 2800 levels. While, downside support remains at 2450-2420 followed by 2428-2419 (left over gap on 29/11/2009).