Dealmoney - Commodity & Currency Weekly Report - 27-Jan-20
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CPO FEB (767)
Sell CPO @ 767 SL 785 TGT 730
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Crude palm oil from last five months was in upwards trajectory
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Price has moved up significantly by 66% in this period. CPO which made low of 492 in month of July tested all time high of 844 recently
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But in last few sessions we are observing price has changed its course and now it is heading downwards
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In this fall it has breached rising trend line which was acting as a support
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We expect after a substantial rise CPO is heading for some corrective move