TECHNICALS-Palm oil neutral in 4,206-4,293 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Oct 11 (Reuters) - Palm oil FCPOc3 looks neutral in a range of 4,206 ringgit to 4,293 ringgit per metric ton, and an escape could suggest a direction. The nature of the consolidation within the range remains unclear. It may turn out to be a flat, which is categorised as a continuation pattern, to be followed by a round of drop. A break above 4,293 ringgit, however, would confirm a small bottom around 4,206 ringgit. A bullish target range of 4,346 ringgit to 4,382 ringgit will be established. On the daily chart, signals are bullish, as the market has stabilised around a rising trendline. The stabilisation suggests a five-wave structure of the uptrend from 3,702 ringgit. The correction over the past two days might have been driven by a wave d, which is expected to be reversed by an upward wave e that could travel towards 4,432 ringgit. * 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. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ tech https://tmsnrt.rs/3U0I8qM cpo https://tmsnrt.rs/3U61SsX ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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].))