Crude palm oil futures traded 26 points higher today to closed the morning session at 2260 after soy oil ended yesterday in positive tone. Volume traded also turned higher today to support the upward pushed. Technically, price lifted and remained above the middle Bollinger band = market positive sentiment has returned. But the Bollinger band width still continue to narrowing = market can continue to trade side way range bound waiting for the band width to turned spreading outward for a continue upward price movement. MACD Histrogram edge up higher to near the zero line level = buyer activities have returned to the market with some mild short covering. Overall, market still trading inside the in the forming symetrical triangle and waiting for price to break above the plotted upper line. So keep your finger crossed, longed trader.
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