[Dow Jones] BMD CPO futures likely to open MYR10-MYR15 higher on short covering, technical buying, traders say. "CPO may stage technical rebound at opening after recent losses," says executive at Kuala Lumpur-based brokerage; adds CPO to trade sideways ahead of MPOB data on end-May stocks, output, exports due Thursday. Immediate resistance at MYR2,450, with support at MYR2,425/ton today, says analyst in Singapore; crude's rise in Asia supportive. Benchmark BMD August contract ended MYR17 lower at MYR2,432/ton yesterday. Nymex July crude trading 52 cents higher at $72.51/bbl on Globex.
(shie-lynn.lim@dowjones.com) Call us in Kuala Lumpur: +(603) 2026 1233
(END) Dow Jones Newswires
06-08-10 2153ET
Copyright (c) 2010 Dow Jones & Company, Inc.
No comments:
Post a Comment