TECHNICALS-Palm oil may test resistance at 4,106 ringgit

* For more technical analyses, please click TECH/C SINGAPORE, June 3 (Reuters) - Palm oil FCPOc3 may test resistance at 4,106 ringgit per metric ton, a break above which could open the way towards $4,139 ringgit. The contract has climbed high above 4,002 ringgit, the 161.8% projection level of a wave (c) from 3,780 ringgit. Chances are it may extend to 4,139 ringgit. An inverted head-and-shoulders has been confirmed, suggesting a higher level of 4,185 ringgit. Support is at 4,054 ringgit, a break below which could be followed by a drop into 4,025-4,035 ringgit range. On the daily chart, a retracement analysis reveals a break above resistance at 4,025 ringgit. The break opened the way towards 4,124-4,246 ringgit range. A short upper channel indicates a target around 4,246 ringgit as well. * 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/3yGNDTr tech https://tmsnrt.rs/3yNTTJq ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Subhranshu Sahu) (([email protected]; +65 6973 8364/9188 4196)) ((If you have a query or comment on this story, send an email to [email protected].))