Monday starts volatile with palm oil… | Report

Reading time: 2 minutes

By Athena Tradewinds.
Athena Tradewinds is an Indian company specializing in the sale of Sunflower oil, Sunflower meal, and Soybean oil. Athena Trade Winds is one of the top 10 importers in India of these commodities. 

Monday starts volatile with palm mostly remaining in positive zone and by lunch we were up 102 points for Aug at RM 6211. News about 32.5% higher export from Malaysia and lower production by 26%also helped keeping MDEX in the green but real news was Indonesia allowing 3 million to export and keeping 1 million for local market and that too only from them who have not claimed any subsidy resulted in MDEX to rally further.

At the time of writing this report Aug was up +165 points over 2.7% at RM 6273 almost at the days high and July successfully trading over RM 6500. Like mentioned before if we manage to keep July over RM 6450 for couple of days then the road to RM 6750 will be clear and only then it will make sense for any one to go short in the market.

Access The Full Report Now

Read also: Athena Tradewinds Report – 20/05/2022

Read also: Athena Tradewinds Report – 19/05/2022

Read also: Athena Tradewinds Report – 18/05/2022