ATHENA MARKET BUZZ

1600 24042025 ATHENAMARKETBUZZ WEDNESDAY Good Morning, Mdex commenced trading on a firm note, with July settling at RM 3976 by midday, showing signs of strength as it repeatedly attempts to breach the RM 4000 mark. Both the RSI and moving averages indicate some degree of strength, although Mdex casts a long shadow, hinting at potential selling pressure building up in the days ahead. From a technical perspective, we can anticipate support levels around RM 3750, while amidst increased biofuel demand and uncertain macroeconomic conditions, palm prices may fluctuate between RM 3850-4100. We recommend our readers to continue exiting their long positions at current levels and await buying opportunities around RM 3800. On the upside, if the market surpasses RM 4200, we should be prepared to initiate short positions until we test RM 4450. In India, ROL was offered around USD 940, and CPO was indicated around USD 960 for the nearby month, while locally ROL traded between INR 905-910, roughly at...

1600 19042025 ATHENAMARKETBUZZ FRIDAY Good Morning, Mdex opened steadily, buoyed by overnight concerns about potential conflict escalation in the Middle East, which initially stabilized palm prices and prompted a rally in gold and the dollar. However, once sources confirmed the failure of a drone attack against Iran, leading to de-escalation of tensions, the market took a downturn. Mdex hit July lows today at RM 3886 but managed to settle slightly higher around RM 3928. This marks the second consecutive day of closing below the RM 4000 mark. If Monday fails to breach RM 4000, we should brace for prices to test RM 3750. India remained relatively quiet over the past two days, with forward ROL offers slipping below USD 900 for JAS. While some sellers were eager to sell spot cargo even at USD 950, there hasn't been significant buyer interest. Locally, sellers are now asking for INR 920 for imported ROL and are willing to negotiate lower prices for larger volumes, though interest remain...