Crude Palm oil yesterday traded with the negative node and settled -0.08% down at 515.2 driven by subdued spot demand. With the recovery in CPO output gaining momentum in Malaysia, the world's second-largest producer after Indonesia, inventory levels may even match December 2009's record level of 2.2 million tons in the next few months. In yesterday's trading session Crude Palm oil has touched the low of 512.5 after opening at 512.5, and finally settled at 515.2. For today's session market is looking to take support at 513.1, a break below could see a test of 510.9 and where as resistance is now likely to be seen at 516.8, a move above could see prices testing 518.3.

Trading Ideas:

Crude Palm Oil trading range is 510.9-518.3.

Crude Palm oil yesterday traded with the negative node driven by subdued spot demand

Resistance for crude palm oil is at 516 level

Support for crude palm oil is at 513.10 level.

Crude palm oil prices in spot market fell by 0.60 rupees and settled at 519.60 rupees.