Crude Palm oil yesterday traded with the positive node and settled 1.05% up at 535.6 tracking price of other commodities higher as investor fears over the impact of the nuclear crisis in quake-hit Japan receded. Japan imports around 500,000 tonnes of palm oil each year. Global palm oil production was about 45 million tonnes in 2010. In yesterday's trading session Crude Palm oil has touched the low of 531 after opening at 531, and finally settled at 535.6. For today's session market is looking to take support at 532.3, a break below could see a test of 528.9 and where as resistance is now likely to be seen at 537.7, a move above could see prices testing 539.7.

Trading Ideas:

Crude Palm Oil trading range is 528.9-539.7.

Palm oil rose tracking price of other commodities higher as investor fears over impact of nuclear crisis in Japan receded

Resistance for crude palm oil is at 538.60 level

Support for crude palm oil is at 531.40 level.

Crude palm oil prices in spot market gained by 11.30 rupees to 526.30 rupees.