Trends - Oil Palm - Business Recorder

Oil Palm

Palm oil may retest support at 3,465 ringgit

The weak bounce triggered by the support at 3,465 ringgit could have completed around a falling trendline. The wave C may have resumed.

Published 22 Feb, 2021 10:22am

Markets

Palm oil rises on bargain buying

KUALA LUMPUR: Malaysian palm oil futures closed 1% higher on Friday, on bargain buying and strength in rival ...

Updated 20 Feb, 2021 06:27pm

Markets

Palm oil may retest support at 3,465 ringgit after weak bounce

A bounce is highly likely to occur around this support.

Published 19 Feb, 2021 11:31am

Markets

Asia Coffee-Vietnam tepid after Lunar New Year break, supply scarce in Indonoesia

"Premiums were adjusted down since the benchmark prices in London rose," the trader said. "Even so, it is hard to export since the stockpile is too low and mini harvest hasn't come yet."

Published 18 Feb, 2021 01:16pm

Markets

Malaysia keeps March crude palm oil export tax at 8%

The world's second-largest palm exporter calculated a reference price of 3,977.36 ringgit per tonne for March.

Published 18 Feb, 2021 12:55pm

Markets

Palm oil falls over 1% as Malaysia maintains high export tax

Palm had risen 2.7% in the previous session.

Published 18 Feb, 2021 12:25pm

Markets

Palm oil may test resistance at 3,662 ringgit

The exact move on Thursday remains unclear. The contract may open lower and retreat towards 3,521 ringgit or open high but close below 3,634 ringgit. A consolidation around 3,634 ringgit is highly anticipated.

Published 18 Feb, 2021 11:13am

Markets

Palm oil may retest resistance at 3,589 ringgit

Palm oil is expected to retest this strong barrier. However, it may fail again and start a much shallower correction than the former one from 3,631 ringgit.

Published 17 Feb, 2021 12:42pm

Markets

Palm rises over 2% on higher exports, costlier soyoil

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

Published 16 Feb, 2021 11:53am

Markets

Palm oil may test resistance at 3,752 ringgit

Regardless of the wave structure, the rally looks full of momentum. Support is at 3,673 ringgit, a break below which could cause a fall into a range of 3,545-3,624 ringgit.

Published 16 Feb, 2021 11:23am

Markets

Palm oil surges above 4pc

SINGAPORE: Malaysian palm oil futures rose over 4% on Monday, bouncing back from last session’s losses and ...

Published 16 Feb, 2021 04:07am

Markets

India’s Jan palm oil imports jump

MUMBAI: India’s palm oil imports jumped 31% in January from a year earlier as lower import taxes prompted refiners...

Published 14 Feb, 2021 03:49am

Markets

NY coffee may retest support at $1.1995

The support is provided by the 76.4% projection level of a downward wave C from $1.2730.

Published 11 Feb, 2021 12:47pm

Markets

Palm oil snaps 5-day rally ahead of Lunar New Year holiday

Also weighing on prices, soyoil on the Chicago Board of Trade fell 0.3%.

Published 11 Feb, 2021 12:37pm

Markets

Palm oil may edge up to 3,684 ringgit

On the daily chart, palm oil has cleared a resistance at 3,606 ringgit, the 23.6% retracement on the uptrend from 2,691 ringgit to 3,888 ringgit. It is likely to gain more to 3,713 ringgit.

Published 11 Feb, 2021 10:10am

Markets

Palm oil may retreat to 3,503 ringgit

On the daily chart, a retracement analysis on the uptrend from 2,691 ringgit to 3,888 ringgit reveals a similar resistance at 3,606 ringgit, the 23.6% level.

Published 10 Feb, 2021 10:50am

Markets

Palm oil nears one-month high on hopes of bullish USDA report

The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 108 ringgit, or 3.14%, to 3,543 ringgit ($872.88) a tonne during early trade.

Published 09 Feb, 2021 12:10pm

Markets

Palm oil may rise into 3,503-3,584 ringgit range

A drop below 3,400 ringgit may signal the break above 3,422 ringgit was false. The contract may then drop towards 3,322 ringgit.

Published 09 Feb, 2021 10:58am

Markets

Buyers shun major Malaysian palm oil producers after forced labour allegations

"Buyers are waiting for proof from CBP (the US customs authority) before taking further action... We are making contingency plans to look for alternative suppliers if the situation worsens," one trader said.

Published 08 Feb, 2021 12:46pm

Markets

Palm oil may retreat to 3,322 ringgit

On the daily chart, the contract managed to hover above a rising trendline.

Published 08 Feb, 2021 10:31am

Markets

Palm oil may rise to 3,422 ringgit

A break below 3,322 ringgit may cause a fall into 3,208-3,260 ringgit range. On the daily chart, the contract is trying to stabilize around a rising trendline.

Published 05 Feb, 2021 11:58am

Markets

Malaysia end-Jan palm oil stocks seen rebounding as exports, output plunge

A drop in imports, after hitting multi-year highs in December, will be the main deterrent for stockpiles to rise, said Sathia Varqa, co-founder of Singapore-based Palm Oil Analytics.

Published 05 Feb, 2021 11:25am

Markets

Palm oil may stabilise around 3,208 ringgit

The current wave b may end above 3,148 ringgit, to be reversed by the wave c.

Published 04 Feb, 2021 11:16am

Markets

Palm oil may fall to 3,322 ringgit

8 The next support will be at 3,322 ringgit, a break below which could cause a fall to 3,260 ringgit.

Published 03 Feb, 2021 10:52am

Markets

Palm oil falls nearly 2% on weak Jan exports, higher Indian tax

The contract rose 6% last week, snapping two consecutive weeks of losses after top producer Indonesia set higher tariffs on crude palm oil.

Published 02 Feb, 2021 10:10am

Markets

Palm oil may test resistance at 3,524 ringgit

Despite its strength, the current rise may end in a wide range of 3,524-3,716 ringgit, as the fall from 3,888 ringgit adoped a five-wave mode, which suggests the second round of drop.

Published 02 Feb, 2021 10:07am

Business & Finance

Malaysia's December exports rise 10.8% y/y, beat forecast

The expansion beat the 6.6% rise forecast by analysts surveyed by Reuters and was quicker than the 4.3% growth posted in November.

Published 29 Jan, 2021 10:47am

Markets

Palm oil may test resistance at 3,426 ringgit

A retracement analysis on the fall from 3,888 ringgit to 3,160 ringgit reveals a target of 3,438 ringgit, the 38.2% level, which is near 3,426 ringgit.

Published 29 Jan, 2021 10:44am

Markets

Palm oil may test resistance at 3,426 ringgit

A break could lead to a gain to 3,606 ringgit.

Published 28 Jan, 2021 10:09am

Markets

Malaysia palm oil jumps over 3pc

SINGAPORE: Malaysian palm oil futures jumped 3.6% on Wednesday, extending the previous session’s gains, as...

Published 28 Jan, 2021 04:40am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 30	278.40
USD PKR Interbank Buying / Apr 30	278.20
USD to Japanese Yen / Apr 30	156.75
USD to Swiss Franc / Apr 30	0.91
Pound Sterling to USD / Apr 30	1.25
Euro to USD / Apr 30	1.07

Stock	Volume
S&P 500 / Apr 29	5116.17
Nasdaq / Apr 29	15983.08
Dow Jones / Apr 29	38386.09
India Sensex / Apr 30	75020.21
Tokyo Nikkei / Apr 30	38337.50
Hang Seng / Apr 30	17733.21
FTSE 100 / Apr 30	8175.09
Germany DAX 30 / Apr 30	18100.97

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 26	20535
Gold 10 Grams PKR / Apr 29	209105
Petrol/Litre / Apr 30	293.94
Crude Oil USD/Barrel / Apr 30	82.43
Gold Spot USD/Ounce / Apr 30	2326.07
Diesel/Litre / Apr 30	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 30 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 30 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 30 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 30 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 30 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 30 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 30 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 30 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 30 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 30 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 30 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 30 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 30 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 30 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 30 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 30 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 30 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 30 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 30 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 30 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 30 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 30 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 30 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 30 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 30 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 30 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 30 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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