TECHNICALS-Palm oil may retest support at 4,106 ringgit

* For more technical analyses, please click TECH/C SINGAPORE, Jan 21 (Reuters) - Palm oil FCPOc3 may retest support at 4,106 ringgit per metric ton, as a bounce triggered by this barrier may have completed. The bounce apparently has lost its momentum around resistance at 4,265 ringgit. It looks like a pullback towards 4,225 ringgit. A break above 4,265 ringgit may open the way towards 4,315 ringgit to 4,364 ringgit range. On the daily chart, the pullback is towards the 61.8% retracement of 4,227 ringgit. Only if the contract closes above this level on Tuesday or Wednesday, could it avoid falling to 4,002 ringgit. A close above 4,227 ringgit would signal the break below this level on Jan. 17 was false. A bullish target of 4,409 ringgit would be established. * 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/3Cg5B1n tech https://tmsnrt.rs/3PGrJVV ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Reporting by Wang Tao; Editing by Rashmi Aich) (([email protected]; +65 6973 8364/9188 4196))