TECHNICALS-Palm oil may fall into 3,845-3,856 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, Feb 13 (Reuters) - Palm oil FCPOc3 may fall into a range of 3,845-3,856 ringgit per metric ton, as it failed to break resistance at 3,925 ringgit. The failure indicates a completion of the rise from 3,745 ringgit, or the first round of this rise. A retracement analysis on the dowtnrend from 4,036 ringgit reveals a break below 3,891 ringgit. The break opened the way towards 3,856 ringgit. Another retracement analysis on the uptrend from 3,745 ringgit suggests a target zone of 3,821-3,845 ringgit. A break above 3,898 ringgit may lead to a gain into 3,925-3,945 ringgit range. On the daily chart, the contract failed to break resistance at 3,940 ringgit and a falling trendline. The failure, along with the shooting star on Feb. 9, strongly indicates a correction towards 3,825 ringgit. ** Charts are not available in emails received through "Alert". Key in news code TECH/C to get charts. ** 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/42FP9QY tech https://tmsnrt.rs/3HVvQcu ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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].))