TECHNICALS-Palm oil neutral in 3,787-3,857 ringgit range

* For more technical analyses, please click TECH/C SINGAPORE, May 17 (Reuters) - Palm oil FCPOc3 looks neutral in a narrow range of 3,787 ringgit to 3,857 ringgit per metric ton, and an escape could suggest a direction. The bounce from the May 10 low of 3,767 ringgit is being shaped into a wedge, the nature of which remains unclear. A break above 3,857 ringgit could confirm it as a bullish pattern while a break below 3,787 ringgit a bearish one. On the daily chart, a retracement analysis reveals a bigger neutral range of 3.804 ringgit to 3,926 ringgit. The bias seems towards the downside, as market keeps testing the support at 3,804 ringgit. Further bearish indication comes from the failure of the contract to maintain above a rising trendline. * 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/4anbLYv tech https://tmsnrt.rs/3WRz8WS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (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].))