TECHNICALS-Palm oil may retrace into 4,679-4,731 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Nov 28 (Reuters) - Palm oil FCPOc3 may retrace into a range of 4,679 ringgit to 4,731 ringgit per metric ton, as it faces resistance at 4,868 ringgit. The barrier is strengthened by the resistance established by a falling trendline. The bounce seems to have lost its momentum after failing to extend above the trendline. The failure increases the chance of the downtrend from 5,089 ringgit to resume. A break above 4,868 ringgit could open the way towards the 4,910 ringgit to 4,952 ringgit range. On the daily chart, market faces similar resistance at 4,848 ringgit, which is working together with the resistance on the hourly chart to stop the bounce. A close above 4,848 ringgit would suggest a continuation of the uptrend. * 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/4eQyu1a tech https://tmsnrt.rs/3ASv5RU ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Alan Barona) (([email protected]; +65 6973 8364/9188 4196)) ((If you have a query or comment on this story, send an email to [email protected]))