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ShukAzriy

Futures Crude Palm Oil: Breakout All Time High & Retrace?

Long
Crude Palm Oil Futures (MYX:FCPO1!)  
ShukAzriy  
MYX:FCPO1!   Crude Palm Oil Futures
Trend Analysis
0
2
trendanalysis
On 11/8/2021 and 12/8/2021, there are an attempt of breaking it's CC chart's ATH but unable to sustain above RM4425. As per 13/8/2021, the price closed at RM4474/mt and maybe looking for a slight retracement signal. Overall outlook, still looking very bullish and the price might be able to reach up to RM4800/mt in the near time based on the supply and demand data published by Malaysian Palm Oil Board (MPOB) (bepi.mpob.gov.my/index.php/en/).
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