Crude Palm Oil July In Prices Initially Trading Higher, Closed At 532
CommodityOnline | Jul 23, 2014 06:07AM ET
Prices are congested inside the ascending triangle pattern and any voluminous burst above 537 could see strong upside rallies towards 541 followed by 545 levels in the near term.
CPO July MCX/NCDEX: CPO prices initially trading higher, making a high of 535.6 and later the session closed at 532. Prices are congested inside the ascending triangle pattern and any voluminous burst above 537 could see strong upside rallies towards 541 followed by 545 levels in the near term. Though, the daily RSI (14) is placed at neutral zone, potential buying could not be ruled out for the day. Howerver, major weakness is seen only on a break below 525.
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