Palm Oil Ends Lower, Weighed by Persistent Oversupply — Market Talk
Bullish strength: 25/100
- Stronger crude oil prices provided some support.
- Trader expects support around 4,450 ringgit per ton.
Bearish strength: 75/100
- Record-high Malaysian palm oil inventories are weighing on sentiment.
- Persistent oversupply is pressuring prices.
- January-delivery futures fell 55 ringgit to 4,496 ringgit per ton.
- Market sentiment is expected to remain cautious ahead of the MPOB report.
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