Crude Palm oil yesterday traded with the negative node and settled -0.68% down at 512 tracking weakness in Malaysian palm oil as prices fell as traders booked profits on expectations of higher stocks in the months to come and sharp declines in agriculture commodities. Malaysian palm oil stocks to have hit a six-month high in April with production outstripping a modest growth in exports.. In yesterday's trading session Crude Palm oil has touched the low of 511.5 after opening at 517.4, and finally settled at 512. For today's session market is looking to take support at 509.8, a break below could see a test of 507.6 and where as resistance is now likely to be seen at 515.9, a move above could see prices testing 519.8.

Trading Ideas:

Crude Palm Oil trading range is 507.7-519.9.

Crude palm oil ended lower tracking weakness in Malaysian palm oil

Resistance for crude palm oil is at 516 level

Support for crude palm oil is at 509.90 level.

Crude palm oil prices in spot market dropped by 0.90 rupees and settled at 517.50 rupees.