Commodity Trading Tips for Crude Palm oil by Kedia Commodity

Palm oilCrude Palm oil yesterday traded with the positive node and settled 0.25% up at 568.3 on concern that rains may fail to revive soybean crops damaged by dry weather in Argentina, the top exporter of the rival oil. In yesterday's trading session Crude Palm oil has touched the low of 565 after opening at 565.1, and finally settled at 568.3.

For today's session market is looking to take support at 565.7, a break below could see a test of 563.2 and where as resistance is now likely to be seen at 570.1, a move above could see prices testing 572. Trading Ideas: Crude Palm OIl trading range is 563.2-572. Crude Palm oil ended positive on weather concerns. Resistance for crude palm oil is at 570.10 level Support for crude palm oil is at 565.70 level. Crude palm oil in spot market gained 0.40 rupees and settled at 558.70 rupees.