Commodities: Crude Palm Oil Analysis

Price of FCPO was not able to stay above the uptrend line last month as price continues to decline. The FCPO price fell RM169 per metric ton or 7.1% to RM2,186 in a month. FCPO and soyoil was going against the other commodities trend as the dollar weakens. The price of FCPO found support at RM2,070. The price has been trading in a range between RM2,070 and RM2,240 in the month of September. Exports were slowing down as inventories were increasing in importing countries amid lower consumption.

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