Palm Futures End Slightly Higher

CRUDE palm oil futures prices on Bursa Malaysia Derivatives closed

slightly higher yesterday, tracking improved prices on the Chicago Board

of Trade and China’s Dalian Commodity Exchange, dealers said.

The

market is likely to be in a rangebound trade this week as market

players remain on the sidelines, ahead of the Chinese New Year holidays

next week.

The support price is expected at RM3,600 a tonne while resistance level at RM3,900 a tonne.
The futures contract saw February 2011 rising RM4 to close at RM3,815 a

tonne, March 2011 added RM5 to RM3,801 a tonne, April 2011 edged up RM3

to RM3,751 a tonne while May 2011 shed RM3 to RM3,690 a tonne.

Source : Business Times

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