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2026-01-09 18:17:00
[Palm Oil Closes Lower in Key Technical Range, High Inventory Concerns and Profit-Taking Ahead of Data Limit Upside] ⑴ Malaysian palm oil futures closed lower on Friday, with the benchmark March contract falling 5 ringgit to settle at 4,038 ringgit per tonne. ⑵ Market analysis indicates that profit-taking is likely ahead of key data releases from the Malaysian Palm Oil Board (MPOB) next week, limiting upward price momentum. ⑶ Meanwhile, persistent concerns about potentially high December inventories constitute the main fundamental pressure on prices. ⑷ From a technical perspective, institutional analysis shows support at 4,015 ringgit per tonne, while resistance lies at 4,115 ringgit per tonne. ⑸ Therefore, market sentiment is cautious ahead of the key data release, limiting upside potential. Prices are expected to remain range-bound, awaiting new fundamental guidance.
