Crude Palm Oil. CRUDE PALM OIL-RINGGIT FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) MYX:FCPO1! bottomcatcher Eyeing the lows of July 2019 as a target area. From a technical standpoint, the 200 period moving average capped any further upside earlier this week, forcing prices to slide through the 61.8 fib level (taken from July lows last year & Jan highs this year). The next support level comes in at 2182, below that should be a home run to our Target area. Coupled with that, Commercial Hedgers are massively short Palm Oil according to the COT report published a few weeks back.