TECHNICALS-Palm oil may test resistance at 4,780 ringgit

* For more technical analyses, please click TECH/C SINGAPORE, Nov 27 (Reuters) - Palm oil FCPOc3 may test resistance at 4,780 ringgit per metric ton, a break above which could lead to a gain into the 4,816-4,869 ringgit range. The contract has climbed above a small triangle, which suggests a target of 4,816 ringgit. However, it must be noted that a triangle is the most unreliable pattern. A break below 4,707 ringgit will make this pattern invalid and a bearish target zone of 4,595-4,647 ringgit will be established accordingly. On the daily chart, market managed to stabilize around support at 4,629 ringgit. The stabilization increases the chance of a bounce towards 4,848 ringgit. The bounce will be considered a continuation of the uptrend once it extends above 4,848 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/3CJju81 tech https://tmsnrt.rs/49bv5J7 ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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]))