What really happen to our Crude Palm Oil prices ? Yesterday the CPO prices break RM 2,000 mark in the afternoon market. I'm not very good in crude palm oil futures prices but I was so surprised it breaks the RM 2,000 mark from as high as RM 4,486 per tonne recorded on 04.03.2008.
Based on the charts shows that it's recently break the supporting level of RM 2,020.00 recorded on 18.09.2008. At yesterday closing it close at Rm 2,000.00 per tonne.
The CPO is likely heading to RM 1,820.00 per tonne to RM 1,850.00 per tonne. If the prices still keep on continuing to fall, our plantations counters will suffer from this fall.
With this kind of situation, it is not wise to put your money in the share market. It seems to be everything is falling, the commodities and the share market. Still remember 1997 Asian Financial Crisis ? How our share market fare during that time ?
During that time I have no idea why or how our KL Composite Index managed to drop until 261.33 points recorded on 30.09.1998. This time around the impact from U.S. Financial Market was great and anything can happen.
Based on the charts shows that it's recently break the supporting level of RM 2,020.00 recorded on 18.09.2008. At yesterday closing it close at Rm 2,000.00 per tonne.
The CPO is likely heading to RM 1,820.00 per tonne to RM 1,850.00 per tonne. If the prices still keep on continuing to fall, our plantations counters will suffer from this fall.
With this kind of situation, it is not wise to put your money in the share market. It seems to be everything is falling, the commodities and the share market. Still remember 1997 Asian Financial Crisis ? How our share market fare during that time ?
During that time I have no idea why or how our KL Composite Index managed to drop until 261.33 points recorded on 30.09.1998. This time around the impact from U.S. Financial Market was great and anything can happen.
Don't be surprised if Dow Jones Industrial Average fall to around 7,000 points to 7,500 points in months to come like what had happen to Malaysia share market during 1997 Asian Financial Crisis.
1 comment:
These provides us huge opportunity to invest into plantation stocks.
Just monitor our plantation stocks technical charts well and we are going to have clear view on the buying signal arises.
Happy investing..
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