# Palm oil futures test support levels, rise - The HinduBusinessLine

> 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.

- Date: 2018-07-30 · published 2018-07-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/64134-palm-oil-futures-test-support-levels-rise-the-hindubusinessline
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Technical support and a weaker ringgit give palm oil a modest bullish bias, though the analyst still sees the broader trend as bearish.

## Read by commodity

- PALMOIL: bullish ▲

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/economy/agri-business/palm-oil-futures-test-support-levels-rise/article24555491.ece

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.