Falling for the fourth straight day, crude palm oil prices fell by another 0.13 per cent to Rs 447.20 per 10 kg in futures market today as participants indulged in reducing positions, driven by subdued demand at the spot market.
At Multi Commodity Exchange, crude palm oil for delivery in July fell by 60 paise, or 0.13 per cent to Rs 447.20 per 10 kg in a business turnover of 135 lots.
The oil for delivery in August contracts traded lower by 10 paise, or 0.02 per cent to Rs 447.50 per 10 kg in 46 lots.
At Multi Commodity Exchange, crude palm oil for delivery in July fell by 60 paise, or 0.13 per cent to Rs 447.20 per 10 kg in a business turnover of 135 lots.
The oil for delivery in August contracts traded lower by 10 paise, or 0.02 per cent to Rs 447.50 per 10 kg in 46 lots.
Technically market is under short covering as market has witnessed drop in open interest by -11.14% to settled at 5035, now CPO is getting support at 444.3 and below same could see a test of 440.9 level, and resistance is now likely to be seen at 449.9, a move above could see prices testing 452.1.
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