TECHNICALS-Palm oil may retrace into 4,190-4,212 ringgit range
* For more technical analyses, please click TECH/C SINGAPORE, March 22 (Reuters) - Palm oil FCPOc3 may retrace into the 4,190-4,212 ringgit range again, following its failure to break resistance at 4,326 ringgit per metric ton. The two failures suggest the formation of a double-top, which will be confirmed when the contract breaks 4,190 ringgit. The pattern indicates a target of 4,000 ringgit. A break above 4,274 ringgit could trigger a gain into 4,326-4,378 ringgit range. ** 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/4a3l9Bj ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Sherry Jacob-Phillips) (([email protected]; +65 6973 8364/9188 4196)) ((If you have a query or comment on this story, send an email to [email protected].))
Related News