Palm oil prices fall during the Spring Festival holiday.

The Malaysian investment bank stated in a report that during the Chinese New Year holiday, with low market sentiment, palm oil prices fell in early Asian trading. The bank said that technical analysis predicts that crude palm oil futures may continue to decline. The Malaysian investment bank believes that the resistance level for crude palm oil futures is at 4,201 ringgit per ton, with support at 3,976 ringgit per ton. The bank also added that as long as the price remains below the resistance level, the outlook remains negative. The contract for May delivery on the Malaysian Derivatives Exchange fell by 4 ringgit to 4,042 ringgit per ton.