# Palm oil futures to consolidate, rise  - The HinduBusinessLine

> Malaysian palm oil futures ended higher on Bursa Malaysia Derivatives on Monday as physical demand picked up and the ringgit weakened. The analyst's technical view sees resistance near MYR 2,260 and support around 2,220 and 2,175-80.

- Date: 2018-09-03 · published 2018-09-03T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/7646-palm-oil-futures-to-consolidate-rise-the-hindubusinessline
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Firmer physical demand and a weaker ringgit support near-term palm oil prices, though low volumes suggest the rally may fade.

## Read by commodity

- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2018-09-03 | 1 | +2.2% | 4.4 | Same-day report of futures closing higher on stronger physical demand and a weaker ringgit, with technical levels that support a rally. |

## Sources

- thehindubusinessline.com: https://www.thehindubusinessline.com/markets/commodities/palm-oil-futures-to-consolidate-rise/article24857262.ece

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