TECHNICALS-Palm oil may fall to 4,206 ringgit

* For more technical analyses, please click TECH/C SINGAPORE, Oct 17 (Reuters) - Palm oil FCPOc3 may fall to 4,206 ringgit per metric ton, following its failure to break resistance at 4,346 ringgit. The pattern from the Oct. 7 high of 4,408 ringgit looks like a double-top, which is more likely to be confirmed after the contract failed to break 4,346 ringgit but broke a rising trendline. A further fall below 4,250 ringgit would roughly confirm the pattern and a target of 3,987 ringgit. A break above 4,346 ringgit may lead to a gain to 4,406 ringgit. On the daily chart, signals are a bit mixed, as the contract is stuck in a neutral range of 4,240-4,379 ringgit. An escape could suggest a direction. Wave pattern indicates an upside bias. * 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 https://tmsnrt.rs/3UddrPf tech https://tmsnrt.rs/4dOnPno ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Sumana Nandy) (([email protected]; +65 6973 8364/9188 4196)) ((If you have a query or comment on this story, send an email to [email protected].))