MCX Crude Palm Oil under short covering Support seen at 658.5
India, March 30 -- Technically Crude Palm Oil market is under short covering as market has witnessed drop in open interest by 1. 94% to settled at 1366 while prices up 14.4 rupees.Now MCX Crude Palm Oil is getting support at 658.5 and below same could see a test of 649.4 levels and resistance is now likely to be seen at 673.1 a move above could see prices testing 678.6.Crude Palm Oil yesterday settled up by 2.2% at 667.7 on supply concerns stemming from coronavirus-driven curbs on some plantation activity in the country.Indonesia sets crude palm oil (CPO) export tax at zero for April down from $3 per tonne in March as government reference price declines Trade Ministry document showed.The government's monthly reference price for CPO is set a...
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