MARKET DEVELOPMENT
CPO Futures Contracts Close Lower
CPO Futures Contracts Close Lower
18/12/2015 (Bernama) - Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended lower today, weighed by the weakness in soybean oil prices on the Chicago Board of Trade, a dealer said.
"Chartwise, we still locate support at RM2,300 per tonne and immediate resistance at RM2,420 per tonne," he said.
At close, January 2016 eased RM8 to RM2,216 a tonne, February 2016 fell RM14 to RM2,311 a tonne, March 2016 declined RM20 to RM2,383 a tonne, April 2016 lost RM15 to RM2,432 a tonne and May 2016 decreased RM13 to RM2,450 a tonne.
Volume shrank to 36,642 lots from the 54,045 lots yesterday while open interest dwindled to 230,173 contracts from 245,718 contracts.
On the physical market, December South was unchanged at RM2,170 a tonne.
"Chartwise, we still locate support at RM2,300 per tonne and immediate resistance at RM2,420 per tonne," he said.
At close, January 2016 eased RM8 to RM2,216 a tonne, February 2016 fell RM14 to RM2,311 a tonne, March 2016 declined RM20 to RM2,383 a tonne, April 2016 lost RM15 to RM2,432 a tonne and May 2016 decreased RM13 to RM2,450 a tonne.
Volume shrank to 36,642 lots from the 54,045 lots yesterday while open interest dwindled to 230,173 contracts from 245,718 contracts.
On the physical market, December South was unchanged at RM2,170 a tonne.