More Bullish Price Expected for Palm Oil in Third Quarter
27
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by Mohammad Suhaili Hambali
The price trend for palm oil has moved up within the support and resistant levels in the last two quarters. Since November last year, the resistance level was recorded at RM2,603 per metric tonne and the support level at RM2,241/MT. The high stock level of Malaysian palm oil, recorded at more than two million MT between the end of the fourth quarter of 2012 and March this year, pulled the prices downward.
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