Crude Palm Oil likely To slippage below 534
CommodityOnline | Jul 25, 2014 04:49AM ET
As prices breached the ascending triangle pattern at 537 could see strong upside rallies towards 541 followed by 545 levels in the near term.
CPO July MCX/NCDEX: CPO prices sky-rocketed higher from 534.5 and finally closed at 537.70. As prices breached the ascending triangle pattern at 537 could see strong upside rallies towards 541 followed by 545 levels in the near term. The daily RSI (14) is also looks favourable for a positive outlook for the day. However, slippage below 534 likely to extend the sell offs towards 531 levels, but major liquidation is seen only on a break below 525.
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