Crude Palm oil yesterday traded with the positive node and settled 0.17% up at 474.7 amid a firming global trend and pick-up in the spot market demand. Malaysia's palm oil exports in the August 1-10 period augmented by 48% from a month ago to 5.92 lakh metric tonnes. Investors also shrugged off a supportive outlook for demand, which is tipped to rise 26%-48% during the Aug. 1-10 period. Exports will be sharply higher in the first half of August as exporters rush to move cargoes before the three-day Eid ul-Fitr Muslim holiday that marks the end of the fasting month. In yesterday's trading session Crude Palm oil has touched the low of 471.2 after opening at 478, and finally settled at 474.7. For today's session market is looking to take support at 471.1, a break below could see a test of 467.5 and where as resistance is now likely to be seen at 478.4, a move above could see prices testing 482.1.

Trading Ideas:

Crude Palm Oil trading range is 467.5-482.1.

Crude Palm oil gained amid a firming global trend and pick-up in the spot market demand.

Investors shrugged off supportive outlook for demand which is tipped to rise 26%-48% during Aug. 1-10

Crude palm oil looks to test support at 471.10 and resistance is seen at 478.40.

Crude palm oil prices in spot market gained by 1.50 rupees and settled at 481.10 rupees.