KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is poised for a technical correction next week following the uncertain price movement this week, dealers said.
CPO futures likely to experience technical correction next week thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to see technical correction but on a downside bias in the upcoming holiday-shortened trading week.
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to continue its upward momentum next week on higher export and weaker production expectations.
Palm oil trader David Ng said anticipation of a weaker than expected output despite a peak production period is causing anxiety among market participants while higher demand from India and China owing to restocking activities would continue to boost exports.
Malaysian CPO futures prices would also likely move in tandem with the movement on the Chicago Board of Trade (CBOT) and Dalian Commodity Exchange’s soybean futures as they compete for a share in the global vegetable oils market.
CPO futures likely to experience technical correction next week thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.