TECHNICALS-Palm oil may surge into 4,936-5,023 ringgit

* For more technical analyses, please click TECH/C SINGAPORE, Nov 4 (Reuters) - Palm oil FCPOc3 may surge into a range of 4,936 ringgit to 5,023 ringgit per metric ton, driven by a powerful wave C. A projection analysis on the uptrend from 3,702 ringgit reveals a target zone formed by the 338.2% and the 361.8% levels. Support is at 4,797 ringgit, a break below which could trigger a drop into a range of 4,658 ringgit to 4,711 ringgit. On the daily chart, a projection analysis on the uptrend from 3,638 ringgit reveals strong resistance at 4,887 ringgit, the 100% level. This barrier is expected to work together with the resistance zone of 4,936 ringgit to 5,023 ringgit to stop the rise and trigger a decent correction. * 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/40BIGHL cpo https://tmsnrt.rs/4eeNTrO ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Rashmi Aich) (([email protected]; +65 6973 8364/9188 4196)) ((If you have a query or comment on this story, send an email to [email protected].))