The market is expected to open this afternoon and may find some support at this level RM3,240 and if it is not able to hold, then it may only find support at RM3,000.
Daily FCPO chart as at 18 March 2008 noon. Chart courtesy of NextVIEW
Tuesday, March 18, 2008
Crude Palm Oil Futures went limit down today
The price of Crude Palm Oil Futures (FCPO) took another bashing today as it hit the 10% circuit breaker. Except for the April and August contract, the May, June and July contract fell 10%. The benchmark June contract opened at RM3,390, RM210 lower or 5.8% lower than the previous day's close. And then by noon at about 12.45pm today, the price fell another RM150 or 4.6% making it a total of more than 10% in one day.
The market is expected to open this afternoon and may find some support at this level RM3,240 and if it is not able to hold, then it may only find support at RM3,000.
Daily FCPO chart as at 18 March 2008 noon. Chart courtesy of NextVIEW
The market is expected to open this afternoon and may find some support at this level RM3,240 and if it is not able to hold, then it may only find support at RM3,000.
Daily FCPO chart as at 18 March 2008 noon. Chart courtesy of NextVIEW
Subscribe to:
Post Comments (Atom)
Disclaimer
0 comments:
Post a Comment