# Palm oil will test supports - The HinduBusinessLine

> Malaysian palm oil futures ended lower on Monday after exports fell 5.7% in April and other vegetable oils weakened. A technical analyst expects prices to test support near MYR 2,350 and possibly fall toward 2,310-2,315.

- Date: 2018-04-30 · published 2018-04-30T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6616-palm-oil-will-test-supports-the-hindubusinessline
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The analyst's bearish technical outlook, combined with weak fundamentals, points to continued downside for palm oil prices in the near term.

## Read by commodity

- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2018-04-30 | 1 | -3.4% | -5.1 | Same-day report of lower close on weaker April exports and softer other vegetable oils, with technical selling toward support levels amplifying the decline. |
| PALMOIL | 2018-05-01 | 1 | -3.4% | -4.8 | Prices fell on Apr 30 on the weaker April export data and softer related vegetable oils, and technical analysts flagged a test of lower support, which can add to selling momentum. |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/commodities/palm-oil-will-test-supports/article23731817.ece

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