CPO prices may correct to RM2335-40

After breaking above its medium-term downtrend line at RM2250 in mid-November, CPO rallied to a recent high of RM2525. CPO is now undergoing a minor correction. However, CPO downside is limited with a short-term uptrend line (SS) support seen at RM2335-40.


Chart: CPO's daily chart as at Dec 14, 2009 (Source: ifs.marketcenter.com)