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Athena Market Buzz

1530 08052025 ATHENAMARKETBUZZ WEDNESDAY  Good Morning , MDEX opened slightly higher, and by midday, July settled at RM 3915, down by 15 points. The day's high for July reached RM 3956, but then selling pressure increased, resulting in a correction. At the time of writing, July Palm stands at RM 3874, down by 53 points. As previously mentioned, we anticipate selling of long positions between RM 3950-4000, with traders booking profits on their positions. Prices may correct towards RM 3750, and one can consider buying once it corrects below that level. Most traders are not bullish on palm prices, but resistance also lies around our target of RM 4450. We reiterate that once prices test RM 3750, they will likely bounce back with renewed vigor, attempting to breach our RM 4250 resistance level, where we suggest making shorts in the market. Overall, CNF India prices of CPO have once again crossed the USD 950 mark, but there is no significant follow-through demand. Longs may panic and se
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Athena Market Buzz

  1430 07052025 ATHENAMARKETBUZZ TUESDAY   Good Morning , Congratulations! The support of RM 3800 has held firm, as has the 200-day moving average. MDEX opened strongly, and by lunchtime, we settled July at RM 3922, up by 60 points. At the time of writing, it continues to trade firmly at RM 3926, up by 64 points. Daily highs reached around RM 3935, and we anticipate prices to continue firming up towards RM 4000. As previously mentioned, levels between RM 3950 to RM 4000 will present excellent opportunities to sell long positions, while prices moving towards RM 4250 or higher will provide opportunities for short positions. Global tensions are escalating, and with Brent crude oil holding around 83, we can anticipate palm oil to hold at current levels. Renewed demand is evident in China, India, and Pakistan, with India looking to price spot CPO around the USD 950 mark, approximately equivalent to INR 88,500 in ROL. The Indian market is experiencing a disparity in palm products, indi
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