India, Sept. 14 -- Technically Crude Palm Oil market is under short covering as market has witnessed drop in open interest by 0. 35% to settled at 4302 while prices up 2 rupees.
Now MCX Crude Palm Oil is getting support at 760.8 and below same could see a test of 756.6 levels and resistance is now likely to be seen at 767.5 a move above could see prices testing 770.
Crude Palm Oil yesterday settled up by 0.26% at 765 on late short covering after prices dropped as rising production and worries over demand outweighed cargo surveyor data showing strong exports in September so far.
Market participants remain concerned over a resurgence of COVID-19 cases leading to fresh lockdowns and lower crude oil prices. Export demand was expected to rema...