CPO FUTURES Review For 19 January 2012
Posted byCRUDE palm oil futures prices on Bursa Malaysia Derivatives closed higher yesterday in a technical correction supported by strengthened external factors, a dealer said.
"Trading was pretty heavy today with the highestprices touching as high as RM3,173 per tonne," she added.
February 2012 rose RM34 to RM3,195 a tonne and March 2012 increased RM39 to RM3,175. April 2012 added RM38 to RM3,164 a tonne and May 2012 gained RM35 to RM3,160 a tonne.
Volume dwindled to 25,785 lots from 28,163 lots while open interest went up to 118,183 contracts from 116,764 contracts previously.
On the physical market, January South rose RM20 to RM3,190 a tonne.
( By : Busines Times )
Well that what the news said. well as my post before about wave C is till not valid. As u can see in the picture the price is still in trending mode and still stay above SMA 200 ( still in Bulleh Land ) and after retreat from the first hit on the blue wall the bull might charge again at full force to fight agains the blue wall again. If it succed then we might seeing 3500 area again. And what you guy said? " The Felda guys will smile until his ears :)
Hope u will like my opinion and please read more on my previous post on http://tokancorner.com/
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