Palm | Kelapa Sawit

Market was entering into bearish territory following prices drop sharply for consecutive 2 trading days and violated the physiological support at USD80.00. Thus, market may move sideways to lower in near term. As for now, we are looking for the immediate upside resistance at USD82.00-83.00, while downside support is lies at USD78.50-78.00.

Market looks has found some support at around USD80.50-81.00 and rebounded to test the immediate upside resistance at USD85.63. Thus, market may consolidate and move in the range of USD86.40-87.00 to USD80.50. Violation of either way may provide a more clearer direction.

Market retreated after facing some resistance at USD87.00. Nevertheless, market remains its sideways to bias upside potential move in near term market. Hence, look for the upside resistance at USD87 to 90.50. Immediate downside support is looking at USD80.00

Market continue to lose ground following prices ended down for straight five days and tested the support at USD83.00 in intra-day basis. As for now, we are looking at the immediate upside resistance at USD85.71-85.88 followed by USD86.37. To the downside, immediate support is lies at USD82.00-81.50.

Market is facing some resistance at USD87.00 and looks may due for a consolidation in near term. As for now, we are looking at the immediate upside resistance at USD87.09. To the downside, immediate support is lies at USD83.95 followed by USD83.00

Market has come to the end of its consolidation phase following prices violated the recent high at USD83.95. Thus, more room to bias upside potential with upside is projected at USD88.00-93.00. Immediate downside support is looking at USD80.00-78.00.

Market rebounded sharply had improved the immediate technical landscape to bias upside potential. As for now, we are looking at the immediate upside resistance at USD83.95 followed by USD86.00-87.00. To the downside, support is pegged at USD80.00

Market rebounded sharply to draw a long white candle had improved a little the immediate technical outlook. However, more strength is still needed in order to change the current outlook to look more positively. Thus, market may consolidate and move in the range of upside at USD83.16-83.95 to the downside at USD78.57.

Market looks still searching for a clearer direction as market remains in consolidation phase. Thus, upside resistance is pegged at USD83.95. Immediate downside support is looking at USD75.00 followed by the USD68.59.

Market is losing its upward momentum following a potential formation of head and shoulder. As for now, we are looking for the upside resistance at USD83.00 to 83.16. While, downside support is pegged at USD78.57.

Market stayed firm at USD80 had strengthened a little the market upside momentum. Thus, market may want to challenge the immediate upside resistance at USD82.00-82.34 followed by USD83.52-83.95. To the downside, support is lies at USD79.00-78.00.

A good closing for the week with printed a long white candle had helped to improve the market momentum bias sideways to little upside potential. Thus, we are now looking for the upside resistance at USD83.95 (high since 17/1/2010) and downside support is pegged at USD69.50 (low since 7/2/2010)

A sharp decline of more than USD3 had wipe off the earlier effort. Thus, consolidate mode likely to continue in near term and market may trade in between USD78 to USD72.40. Violation of either way may provide us a more clearer market direction.

Market found some cushion at USD72.40 and rebounded to gain ground. Thus, market may consolidate in near term. As for now,upside resistance is looking at USD79.00 to 80.00. Downside support is adjusted to USD72.40.

Market momentum weaken further and looks market may continue to move sideways to lower in near term. Hence, upside resistance remains stood at USD83.95 and downside support is lies at USD72.00 to USD68.50.

Bears continue to strike as prices failed to hold ground. Thus, market may continue to move lower in near term. Hence, upside resistance is now looking at USD79.00 to 80.00. Downside support is adjusted to USD75.00.

Consolidation phase looks likely to continue after prices failed to stay firm above USD80 levels. Hence, upside resistance is pegged at USD83.95 and downside support is adjusted to USD72.00 to USD68.50.

Market is entering into consolidation phase after tested the recent high at USD83.95. Hence, upside resistance is now looking at USD83.95 followed by USD85.00. Downside support is adjusted to USD79.00-78.00.

A convincing breakout from the recent high at USD82.00 had strengthen further the upward momentum. Hence, more room to bias upside potential with upside target is looking at USD85.00 to 90.00. Downside support is adjusted to USD80.00.

Market shies away after tested the recent high at USD82.00. Immediate technical outlook remains positive while waiting for a convincing breakout. Next resistance will be looking at USD85.00 to 90.00. Downside support remains at USD79.00.