TECHNICALS-Palm oil may extend loss into 4,119-4,152 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Oct 9 (Reuters) - Palm oil FCPOc3 may extend loss into a range of 4,119 ringgit to 4,152 ringgit per metric ton, as an uptrend from the Sept. 30 low of 3,987 ringgit has reversed. The reversal has been confirmed by the deep fall from the Oct. 8 high of 4,408 ringgit. Five small waves make up the uptrend. The wave 4 ended around 4,119 ringgit, which works as a target. Immediate resistance is at 4,248 ringgit, a break above which could lead to a gain into 4,291 ringgit to 4,344 ringgit range. On the daily chart, is it not very clear if the whole uptrend from 3,702 ringgit has reversed. The trend was driven by a wave (c), which may consist of either three or five smaller waves. A stabilisation of the price around support at 4,153 ringgit would suggest a five-wave mode. * 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 h https://tmsnrt.rs/3NmTFN2 cpo https://tmsnrt.rs/3XZyrtz ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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].))