Crude Palm oil yesterday traded with the positive node and settled 0.4% up at 557.2 tracking firmness in global market. Better demand in the spot market due to the ongoing marriage season also supported the uptrend.  In yesterday's trading session Crude Palm oil has touched the low of 551.6 after opening at 556.6, and finally settled at 557.2. For today's session market is looking to take support at 553.3, a break below could see a test of 549.4 and where as resistance is now likely to be seen at 559.4, a move above could see prices testing 561.6.

Trading Ideas:

Crude Palm OIl trading range is 549.3-561.5.

Crude Palm oil gained tracking firmness in global market.

Resistance for crude palm oil is at 560.60 level

Support for crude palm oil is at 553.40 level.

Crude palm oil prices in spot market dropped 0.80 rupees to 549.20 rupees.