Futures Crude Palm Oil: Breakout All Time High & Retrace?

12 באוג׳ 2021

On 11/8/2021 and 12/8/2021, there are an attempt of breaking it's CC chart's ATH but unable to sustain above RM4425. As per 13/8/2021, the price closed at RM4474/mt and maybe looking for a slight retracement signal. Overall outlook, still looking very bullish and the price might be able to reach up to RM4800/mt in the near time based on the supply and demand data published by Malaysian Palm Oil Board (MPOB) (bepi.mpob.gov.my/index.php/en/).