FCPO Weekly View: maintain ranging between 4750-5250

Palm oil prices remains at 5,000 last week. As market remained concerns over low production and inventories due to labor shortage. However, reducing in export demand capped gains.

Market likely to move within the range of 4750-5250 in near term, until market break from the price range and sustain above 5250 or below 4750, then follow by new direction.

While Stochastic shows signs of uptrend reversed, as well as a shooting star candle formed at the resistance threshold at 5300.