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(From Business Times (Malaysia))
Byline: W.Q. Mun
Long-term Trend: Bullish Short-term Trend: RM1,400RM1,500 trading range market with a downside bias.
Momentum Index: - 25 Relative Strength Index: 44 Observations: CPO market participants abandoned their trade positions in numbers, and price movements practically came to a near standstill last week.
The active August 2006 contract was traded within a narrow RM1,434-RM1,452 price band, settling last Friday at RM1,446 for a nominal RM6 loss over the week. Trading turnover was down compared to that for the previous week.
The abandonment of trade positions was evidenced by the notable …