AHMEDABAD (Commodity Online): CPO October future contract has gained around 12.5% during last twenty days on good export demand globally. 14 days RSI is at 75 and is moving upward.
“Technically, range for CPO is from 435 to 465 for near term,” said Anil Patadia, research analyst with Commodity Online.
Technically, support for CPO October contract is near 439, while resistance can be seen at 458. CPO is bullish these days due to strong oil sector. One should make position as per momentum for safe intraday trading for next couple of days.
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