Crude palm oil prices shed 0.14% to Rs 431 per 10 kg in futures trade today as traders reduced positions, triggered by higher supplies from producing belts at spot market against lower demand.
At Multi Commodity Exchange, crude palm oil for delivery in July was trading lower by 60 paise, or 0.14% to Rs 431 per 10 kg in a business turnover of 80 lots.
Technically market is under long liquidation as market has witnessed drop in open interest by -6.26% to settled at 3113 while prices down -1.6 rupee, now CPO is getting support at 430.2 and below same could see a test of 428.8 level, and resistance is now likely to be seen at 433, a move above could see prices testing 434.4.
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