India, Jan. 14 -- Technically Crude Palm Oil market is under long liquidation as market has witnessed drop in open interest by 4. 01% to settled at 4065 while prices down 7.6 rupees.
Now MCX Crude Palm Oil is getting support at 970.4 and below same could see a test of 964.2 levels and resistance is now likely to be seen at 987.7 a move above could see prices testing 998.8.
Crude Palm Oil yesterday settled down by 0.77% at 976.6 on concerns over weak demand as Malaysia kept its February export tax rate at 8% but losses were limited by higher soyoil prices.
Exports of Malaysian palm oil products for Jan. 1-10 fell 29.7% to 278450 tonnes from the same period last month cargo surveyor Societe Generale de Surveillance said.
New export tax st...