AHMEDABAD (Commodity Online): CPO March contract opened higher by Rs 1.70 per 10 kg this morning on MCX.

CPO prices have increased by 8.8% approximately since 1st February, 2010 due to buying interest. 14 days RSI is at 75.3 and is moving upside.

“Technically, range for CPO is from 312 to 379,” said Anil Patadia, Commodity Analyst with Commodity Online.

Higher acreage of Soy bean from America can affect CPO prices adversely.

“Fundamentally, CPO is strong as export demand is good, but it may fall probably on profit booking in next coming days,” said Patadia.

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