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Malaysian palm oil futures dropped as stockpile worries outweighed September export gains of about 50% month on month. The analysis flags support near 2,110-2,140 ringgit a tonne and resistance around 2,210-2,240, with the broader trend still bearish.
Technical levels and rising inventories point to continued softness in palm oil prices unless buying volume returns.
thehindubusinessline.comGnanasekaar .TOct 1, 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.
Published on the move date, it says stockpile worries outweighed strong September exports and calls the broader trend bearish, which points to supply-driven selling pressure.
