Palm oil may retrace further toward 4,850 ringgit
Palm oil (FCPOc3) may retrace further to 4,850 ringgit per metric ton, per a rising trendline and retracement analysis pointing to that level.
Palm oil (FCPOc3) may retrace further to 4,850 ringgit per metric ton, as suggested by a rising trendline and a retracement analysis.The current fall is classified as the third part of a correction from the August 21 high of 5,031 ringgit.
The trendline points at a target of 4,850 ringgit.Resistanc…