TECHNICALS-Palm oil may rise into 4,120 ringgit to 4,153 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Oct 2 (Reuters) - Palm oil FCPOc3 may rise into a range of 4,120 ringgit to 4,153 ringgit per metric ton, as it may have resumed its uptrend. The trend is riding on a wave C which is capable of extending to 4,293 ringgit, its 161.8% projection level. The contract has been recovering strongly from the Sept. 30 low of 3,987 ringgit. The recovery suggests a continuation of the wave C. Support is at 4,041 ringgit, a break below which could be followed by a drop into the 3,981 ringgit to 4,017 ringgit range. On the daily chart, a pullback towards the neckline of a high-low bottom has completed. The pattern developed between Aug. 14 and Sept. 17, suggesting a target of 4,350 ringgit. A bullish morning star formed between Sept. 30 and Oct. 1, which is considered a reliable reversal pattern. * Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. ** No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult their own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo d https://tmsnrt.rs/4gLkbgJ cpo h https://tmsnrt.rs/3Nddne4 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Subhranshu Sahu) (([email protected]; +65 6973 8364/9188 4196)) ((If you have a query or comment on this story, send an email to [email protected].))