Crude palm oil futures on Malaysia’s derivatives exchange end lower Thursday,
reflecting investor concerns about export demand and jitters over the possible
impact of capital controls in Cyprus.
"Prices are likely to trade sideways on Friday as most markets will be closed
for Good Friday," a trading executive at a Kuala Lumpur-based brokerage says,
who also tips near-term support at MYR2,390/ton and resistance at
MYR2,450/ton.
"Palm oil’s overall technical trend is pointed lower so any attempts at
taking prices higher will be seen as good selling opportunities," says a
Singapore-based physical market broker.
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