Crude Palm Oil July In Prices Weakness On A Break Below 525
CommodityOnline | Jul 24, 2014 01:52AM ET
Prices are crammed 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 reiterated sharply from the low of 529.6 and closed positively at 533.9 levels. Prices are crammed 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. However, major weakness is seen only on a break below 525.
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