Fcpo saw buying spree after 5pm after fresh high, above 2685, was created. Before mostly 2660-2680. Palm oil conference ended with bullish call for cpo prices in the near term.A sharp contrast to early “fragileness” tone. May10 revisits 2700 lost friend on technical buying but off high of 2700++ near closing probably on arbitrageurs. FCPO looks very expensive in $/RM term after the rally.
Immediate support is raised to 2670 from 2650. Strong buying seen if it can break 2700 again tomorow. 2670-2700 range play, boring.
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