MARKET REVIEW : CPO recovered most of Tuesday losses yesterday on short covering
activities in a fairly directionless day. However,overall sentiment was positive inspired by soyoil overnight strength. The active May08 did not quite
make it to 3900 level for a lack of fresh buying interest yet. It, however, managed to float and finished near record closing level of 3866.
With mixed performance in the past two days, market remains cautious and interest is likely to remain low until strong signals emerge. Renewed buying interest can be expected if May08 trades above 3900. To the downside only a breach of 3840 could bring back active sellers, targeting the recent lows near 3800.
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