TECHNICALS-Palm oil may fall into 4,510-4,553 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Nov 26 (Reuters) - Palm oil FCPOc3 may break support at 4,647 ringgit per metric ton, and fall into 4,510 ringgit to 4,553 ringgit range. The contract is riding a downward wave c from 5,090 ringgit, which briefly travelled below its 123.6% projection level of 4,647 ringgit. Chances are it may extend into the 4,510-4,595 ringgit range formed by its 161.8% and 138.2% projection levels. Meanwhile, a pennant suggests a target of 4,510 ringgit. The consolidation above 4,647 ringgit has been shaped into a small triangle, which looks like a bearish continuation, suggesting a target of 4,553 ringgit. Resistance is at 4,732 ringgit, a break above which may lead to a gain into a range of 4,780 ringgit to 4,816 ringgit. On the daily chart, the contract is about to break the support at 4,629 ringgit. A break could open the way toward 4,275 ringgit, as suggested by the lowest channel. * 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/4fGOFQc tech https://tmsnrt.rs/3ZlXitG ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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]))