TECHNICALS-Palm oil neutral in 4,542-4,608 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Feb 27 (Reuters) - Palm oil FCPOc3 looks neutral in the zone of 4,542 ringgit to 4,608 ringgit per metric ton, and an escape could suggest a direction. A break below 4,542 ringgit could cause a fall into the 4,476 ringgit to 4,502 ringgit range, while a break above 4,608 ringgit is likely to lead to a gain to 4,714 ringgit. The bias looks toward the downside, as the consolidation above 4,542 ringgit could be broken down into three waves. It is rare to see a five-wave structure. On the daily chart, the contract remains sideways around 4,591 ringgit. A rise far above this level or a fall below it could suggest a direction. A channel technique suggests an upside bias, which conflicts the signals on the hourly chart. * 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/3F9Itm4 tech https://tmsnrt.rs/41gj0ij ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Sherry Jacob-Phillips) ((wang.tao@tr.com; +65 6973 8364/9188 4196))