Bursa Alert
Global Market
NewsCPO futures continue downtrend, weighed by stronger ringgit
Page 1 of 1
CPO futures continue downtrend, weighed by stronger ringgit
by Cals Tue 25 Feb 2014, 21:21
| CPO futures continue downtrend, weighed by stronger ringgit |
| Business & Markets 2014 |
| Written by Bernama |
| Tuesday, 25 February 2014 19:50 |
KUALA LUMPUR (Feb 25): Crude palm oil futures contracts on Bursa Malaysia Derivatives continued downtrend, weighed by a stronger ringgit, coupled with the softness in the Chicago soybean market.
"However, downside was capped by firmer export estimates from Cargo Surveyor Intertek Testing Services and Societe Generale de Surveillance, which reported 1.57 per cent and 3.4 per cent increase in exports, respectively.
"On the chart, the immediate support is located at RM2,690, and resistance at RM2,770, respectively," Phillip Futures Sdn Bhd Derivatives Product specialist, David Ng, told Bernama.
March 2014 shed RM19 to RM2,750 a tonne, April 2014 fell RM9 to RM2,751 a tonne, and May 2014 eased RM7 to RM2,734 a tonne.
June 2014, July 2014 and August 2014 lost RM3 each, to RM2,714 a tonne, RM2,685 a tonne, and RM2,667 a tonne, respectively.
Turnover dwindled to 31,950 lots, from 45,780 lots yesterday, and open interest fell to 211,728 contracts, from 229,936 contracts yesterday.
On the physical market, March South was unchanged, at RM2,800 a tonne.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» CPO futures end lower on stronger ringgit
» CPO futures close higher on stronger ringgit
» Downtrend likely to continue
» 'CPI expected to continue downtrend'
» KL shares continue downtrend
» CPO futures close higher on stronger ringgit
» Downtrend likely to continue
» 'CPI expected to continue downtrend'
» KL shares continue downtrend
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|