Crude Palm oil yesterday traded with the negative node and settled -1.6% down at 509.4 as subdued demand at the spot market owing to fall in demand weighed on prices. Higher production comes as exports from Malaysia continue to lag. Traders are expecting exports for that period to be around 900,000 tonnes, some six percent lower than a month ago. In yesterday's trading session Crude Palm oil has touched the low of 503.8 after opening at 513, and finally settled at 509.4. For today's session market is looking to take support at 504.5, a break below could see a test of 499.5 and where as resistance is now likely to be seen at 513.7, a move above could see prices testing 517.9.

Trading Ideas:

Crude Palm Oil trading range is 499.9-518.3.

Crude Palm oil ended weak as subdued demand at spot market owing to fall in demand weighed on prices

Resistance for crude palm oil is at 513.70 level

Support for crude palm oil is at 504.50 level.

Crude palm oil prices in spot market settled at 505.50 rupees.