CPO: Just broke its medium-term uptrend line

CPO: Just broke its medium-term uptrend line

CPO broke its medium-term uptrend line, SS at RM2370 as well as the horizontal line at RM2300. Its next support will be at the horizontal line at RM2200. Beyond that, it may find strong support at the horizontal line at RM2100.

We will see whether the extremely bearish scenario as highlighted in my last post (here) would pan out. For the sake of our economy, let's hope not.


Chart: CPO's weekly chart as at Jan 21, 2015 (Source: iFS. marketcenter.com)

Note:
In addition to the disclaimer in the preamble to my blog, I hereby confirm that I do not have any relevant interest in, or any interest in the acquisition or disposal of, CPO or plantation stocks.

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