KUALA LUMPUR, May 27 — Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower today due to profit-taking activity, a dealer said.
“The local market decline after investors booked returns amid recent rally in prices.
“Lack of fresh catalyst has also kept traders on the sidelines,” Phillip Futures Sdn Bhd derivatives product specialist David Ng said.
He said the next support level would be at RM2,100 a tonne, while resistance at RM2,230 a tonne.
At the close, June 2015 fell RM22 to RM2,141 a tonne, July 2015 and August 2015 eased RM7 each to RM2,179 and RM2,178 a tonne, respectively, while September 2015 lost RM10 to RM2,178 a tonne.
Volume decreased to 29,325 lots from 36,944 lots yesterday, while open interest narrowed to 194,522 contracts from yesterday’s 202,209 contracts.
On the physical market, June South added RM10 to RM2,180 a tonne. — Bernama
