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Malaysian palm oil futures rose on July 30 for a third session in four, supported by a weaker ringgit and steady crude oil. The October contract has been consolidating near recent lows, and technical analysis points to a possible intermediate bottom near 2,140 ringgit.
Technical support and a weaker ringgit give palm oil a modest bullish bias, though the analyst still sees the broader trend as bearish.
thehindubusinessline.comGnanasekaar .TJul 30, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
