InfoSAWIT, KUALA LUMPUR – Crude palm oil (CPO) at the stock (FCPOc3) could be testing its resistant level at RM 3.985 per metric ton. Technical analysis that Reuters reported, if it successfully penetrated the level, it could get escalated to be at RM 4.003 until RM 4.032 per metric ton.

The significant decreasing price recently might be taken as the temporary decreasing price and would not be the exact indication that the increasing price would be up side down. In general, it would take some time for the markets to get the peak of price definitively.

As InfoSAWIT quoted from Reuters, Tuesday (27/8/2024), even though CPO hit its peak at RM 3.985, the analysis predicted the markets (traders) would try to get the level in this very short. On the other hand, if it would get decreased less than at RM 3.927, it would be decreasing to be at RM 3.890 per metric ton, if it happens.

The markets/traders would carefully watch CPO price for its volatility and price fluctuation because of fundamental and technical factors. (T2)