Wednesday, July 03, 2013

CPO- the downtrend line stays intact

CPO, which broke above its downtrend line in the middle of June, has once again fallen back below the downtrend line. While not expecting a rally in CPO prices, I was hoping that the breakout of the downtrend line would give some stability to CPO prices and a chance for plantation to stage a recovery. Let's wait & see.

Chart 3: CPO's weekly chart as at July 2, 2013 (Source: ifs.marketcenter)

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