Palm oil markets has been ranging between 4750-5220 since Oct 2021, topics remained hot within the palm oil industry including
1. labor force shortage,
2. global supply and demand concerns amid resurgence in COVID-19 cases especially in Europe.
Uncertainty in
3. related edible oil due to weather concerns and
4. OPEC+ decisions to maintains its output
which continued to serve support in palm oil industry.
Furthermore,
5. dollar strengthened helped to made palm oil prices more attractive compare to other vegetables oils.
Palm oil market likely to continue maintain its ranging until weightage in issues mentioned above showed unbalance.
Trading Strategies remained neutral, or you may initiate ranging trading strategies.
Long when near support 4750-4850
Short when near resistance 5100- 5220
Good Luck & Happy Trading.
Cheers
1. labor force shortage,
2. global supply and demand concerns amid resurgence in COVID-19 cases especially in Europe.
Uncertainty in
3. related edible oil due to weather concerns and
4. OPEC+ decisions to maintains its output
which continued to serve support in palm oil industry.
Furthermore,
5. dollar strengthened helped to made palm oil prices more attractive compare to other vegetables oils.
Palm oil market likely to continue maintain its ranging until weightage in issues mentioned above showed unbalance.
Trading Strategies remained neutral, or you may initiate ranging trading strategies.
Long when near support 4750-4850
Short when near resistance 5100- 5220
Good Luck & Happy Trading.
Cheers
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。