Palm oil price of goes down significantly to current support level while both volume and open interest increase, it generally indicates a few key points: 1. Increased Selling Pressure: The drop in price at the support level with high volume suggests that there is significant selling pressure. Many market participants are selling the asset, causing…
Current Market Dynamics The palm oil market is currently exhibiting signs of bearish sentiment. Recent trading activity has shown a noticeable decline in palm oil prices from MYR3988 to MYR3967, coupled with a significant increase in both trading volume and open interest. Key Indicators Conclusion Given the current indicators, the outlook for palm oil prices…
Overview:Recent market activities have shown a concurrent increase in price, volume, and open interest, signaling a strong bullish trend across the observed financial markets. This report provides an analysis of these changes and their implications on market sentiment and future trends. Details of Market Movements: Market Implications: Conclusion:The current market conditions, marked by increases in…
Price Change Volume Change Open Interest Change Market Implication Increase Increase Increase Strong Bullish Trend: New money is entering the market, indicating a strong and sustainable bullish trend. Increase Increase Decrease Short Covering: Prices are likely rising due to short sellers covering their positions; the trend may not be sustainable. Increase Decrease Increase Weakening Bullish…
Malaysian palm oil futures were little changed on Friday, as stronger Dalian and Chicago soyoil contracts offset weaker crude oil prices. The benchmark palm oil contract FCPO1! for October delivery on the Bursa Malaysia Derivatives Exchange was up 0.05% to 3,939 ringgit ($842.57) a metric ton by 0246 GMT. FUNDAMENTALS * Dalian’s most-active soyoil contract (DBYcv1) gained…
The plantation and commodities minister says Malaysia’s average replanting rate is 1.8%, against the industry standard of 4%-5%. NEW DELHI: A better replanting rate of older oil palm areas could increase Malaysia’s annual palm oil output by 2.5 million tonnes, plantation and commodities minister Johari Ghani says. Johari had raised concerns about the low rate of…
The global economy finds itself in a “sticky spot,” according to the International Monetary Fund’s latest World Economic Outlook Update. While maintaining its growth projections, the Fund warns of persistent inflation risks and an increasingly complex policy landscape. This report comes as central banks grapple with the challenge of taming price pressures without derailing fragile economic…
In our latest analysis of palm oil prices, we utilize the Ichimoku Cloud indicator to provide a comprehensive view of market conditions. As of today, the current price of palm oil is trading below the Ichimoku Cloud, indicating a bearish trend in the market. This suggests that sellers have the upper hand, and we may…
KUALA LUMPUR (July 16): Crude palm oil (CPO) futures for the active months in 2024 are forecast to average between RM3,850 and RM4,000 per tonne on Bursa Malaysia, according to the Malaysian Palm Oil Association (MPOA). In a statement on Monday (July 15), the association said this projection indicates a slight increase compared to the…
KUALA LUMPUR: Malaysia has secured over RM230 million in palm oil trade deals during Deputy Plantation and Commodities Minister Datuk Chan Foong Hin’s recent working visit to China. In a statement today, the Ministry of Plantation and Commodities (KPK) said Chan’s visit from July 8-12 to promote Malaysian agri-commodities in China has resulted in the…
