Crude palm oil futures gap up but failed to climb higher at the morning session after a almost neutral export figure released by ITS and some bad news development on soy oil futures price due to China delayed importing of soy oil. Price still stayed above and supported by mid Bollinger Band telling us that there still not sign of significant selling pressure in market. FCPO is expected to trade side way range bound due to the narrowing Bollinger Band width development. MACD Histrogram weakening to slightly below zero level indicate that trader might squaring off their long position after a non encouraging crude palm oil export figure and negative soy oil futures price development.
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