TECHNICALS-Palm oil may climb into 5,244-5,314 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Nov 11 (Reuters) - Palm oil FCPOc3 may climb into a range of 5,244 ringgit to 5,314 ringgit, driven by a powerful wave 3. The uptrend enjoys a strong momentum, showing no signs of a reversal. A projection analysis on the uptrend from 3,987 ringgit reveals a target of 5,244 ringgit, which will be confirmed when the market breaks 5,130 ringgit. Immediate support is at 5,060 ringgit, a break below which could trigger a drop into 4,947 ringgit to 5,017 ringgit range. On the daily chart, a projection analysis on a wave (C) from 3,638 ringgit marks a target of 5,364 ringgit, which is suggested by a channel technique as well. Another projection analysis on the uptrend from 3,702 ringgit indicates a lower target zone of 5,248 ringgit to 5,301 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. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ cpo https://tmsnrt.rs/48NCLRY tech https://tmsnrt.rs/3CoBgxq ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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].))