Palm oil falls in Asian trading, tracking soybean oil's weakness on the Chicago Board of Trade and lower palm olein on the Dalian Commodity Exchange, AmInvestment Bank says in a note. Given technical analysis suggesting bearish momentum for crude palm oil futures, the bank maintains its bearish outlook until a bullish breakout above 4,600 ringgit a ton emerges. AmInvestment Bank expects prices to face resistance at 4,600 ringgit a ton and find support at 4,444 ringgit a ton. The Bursa Malaysia Derivatives contract for September delivery is 30 ringgit lower at 4,516 ringgit a ton. (yingxian.wong@wsj.com)
Dow Jones Newswires
Palm Oil Falls on Lower Soybean Oil, Palm Olein — Market Talk
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Palm oil falls in Asian trading, tracking soybean oil's weakness on the Chicago Board of Trade and lower palm olein on the Dalian Commodity Exchange, AmInvestment Bank says in a note. Given technical analysis suggesting bearish momentum for crude palm oil futures, the bank maintains its bearish out…