CPO today closed higher. Crude Oil and Soybean oil rebounded due to weak USD$.
US will need a weak currency in order to boost export to help its economy atleast for period of 1-2 years. Therefore, we need to be caution about the commodity prices as we can not expect a low commodity price during recovery period.
As for CPO, I think 2100 level is the immediate strong support (worst case scenario is 1835 level for short period of time only).
Trading range for this week is 2127 - 2248. If 2248 break, then the next level will be 2300.
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