Palm oil may extend bounce into 4,656-4,677 ringgit range

Palm oil may extend its bounce into a range of 4,656-4,677 ringgit per metric ton, as suggested by its wave pattern and a channel technique. A five-wave cycle from 5,049 ringgit has ended, as indicated by the contract's escape from a falling channel. The peak of the wave (4) is around 4,656.