The Crude Palm Oil Futures Closing
PALM OIL PRICES ON BURSA MALAYSIA
Wednesday, August 13, 2008
Source from The Star
The Crude Palm Oil Futures Closing : Tuesday, 12 August 2008
(Prices are in RM/tonne)
|
MONTH |
OPEN |
HIGH |
LOW |
SETT |
VOL |
O.P. |
|
AUG 08 |
2650 |
2650 |
2650 |
2566 |
1 |
733 |
|
SEP 08 |
2662 |
2667 |
2566 |
2564 |
995 |
4896 |
|
OCT 08 |
2663 |
2675 |
2561 |
2561 |
7935 |
18971 |
|
NOV 08 |
2664 |
2664 |
2562 |
2565 |
3544 |
12113 |
|
DEC 08 |
2635 |
2849 |
2565 |
2565 |
1150 |
4473 |
|
JAN 09 |
2650 |
2657 |
2565 |
2566 |
388 |
2473 |
|
MAR 09 |
2652 |
2652 |
2602 |
2549 |
137 |
1877 |
|
MAY 09 |
2625 |
2627 |
2615 |
2550 |
375 |
2257 |
|
JUL 09 |
2582 |
2582 |
2560 |
2561 |
531 |
2155 |
|
SEP 09 |
2575 |
2575 |
2565 |
2561 |
64 |
938 |
|
NOV 09 |
|
|
|
2580 |
|
471 |
|
JAN 10 |
2560 |
2560 |
2560 |
2560 |
5 |
824 |
|
MAR10 |
|
|
|
2580 |
|
183 |
|
MAY10 |
2610 |
2610 |
2576 |
2580 |
299 |
1233 |
|
JUL 10 |
|
|
|
2580 |
|
33 |
|
|
|
|
|
|
Total Open Position |
: 53,630 ctrs |
|
|
Total Turnover |
: 15,424 lots |
|
|
|
|
The Palm Kernel Oil Futures
(Prices are in RM/tonne)
|
MONTH |
OPEN |
HIGH |
LOW |
SETT |
VOL |
O.P |
|
AUG 08 |
|
|
|
4149 |
|
|
|
SEP 08 |
|
|
|
4149 |
|
|
|
OCT 08 |
|
|
|
4149 |
|
|
|
NOV 08 |
|
|
|
4149 |
|
|
|
DEC 08 |
|
|
|
4149 |
|
|
|
JAN 09 |
|
|
|
4149 |
|
|
|
MAR 09 |
|
|
|
4149 |
|
|
|
MAY 09 |
|
|
|
4149 |
|
|
|
JUL 09 |
|
|
|
4149 |
|
|
|
|
|
|
|
|
Total Open Position |
: Nil |
|
|
Total Turnover |
: Nil |
|
|
|
|
THE CPO futures continued to be udner aggressive speculative-led selling pressure amid renewed weakness in the energy futures and strong US dollar trend. The October delivery contract was sharply lowered by RM110, closing at RM2,561/MT. The October delivery contract faced heavy selling momentum as prices were mixed in the negative territory throughout the day. Agressive sellers continued to hammer down prices and increased bets towards the downside. All hopeful bulls were slaughtered today as prices slips towards the next significant projected objective support levels at RM2,563/MT and RM2,482/MT.
However, short-term technical indicators were screaming “extreme oversold” and the market is now entering into the “high risk sell zone”. This is a warning that the market is ready and capable of a short-term reversal from the low (need confirmation on that).
