date:Feb 25, 2014
there is no downside in sight.
Technicals showed Malaysian palm oil may extend its gain into a range of 2,805-2,821 ringgit, as it has cleared resistance at 2,780 ringgit, said Reuters market analyst Wang Tao. A recovery in exports in February, as well as concerns of dry weather hurting production of palm fruit in Malaysia and Indonesia, have helped prices rise nearly 8 percent so far this month, setting them on track to post their biggest monthly gain in four.
Hot spells have also made plan