SunSirs: Good News, China Palm Oil is Expected to Rise
April 12 2024 10:57:56 SunSirs (Selena)
According to the commodity market analysis system, the palm oil market has maintained a fluctuating upward trend in the first quarter. In January, palm oil rose nearly 2%, and in February, the increase began to expand, exceeding 5%. In March, palm oil had the highest monthly increase, reaching 6.63%. Starting from April, there were mixed ups and downs, and the market gradually began to decline. From April 1st to 11th, palm oil as a whole fell 0.71%.
From the technical market forecast, it can be seen that there is still a possibility of an increase in the palm oil market in mid to late April, and the upward trend is foreseeable.
According to the product market analysis system, the price line of SunSirs crosses the 7-day and 30-day moving averages upwards, indicating that the price of the product has entered an upward channel. Starting from April, the palm oil price line of SunSirs has shown a clear upward trend over the 7-day and 30-day moving averages, indicating the possibility of palm oil entering an upward channel. In addition, currently palm oil prices are at a 1-year high, but at a 2-year low and a 3-year low.
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