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JAKARTA, Oct 16 (Reuters) — Malaysian palm oil futures inched higher on Friday, supported by cargo surveyor estimates showing robust export demand in the first half of October, and were on track for a second consecutive weekly gain. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives
Palm oil may test resistance at 4,732 ringgit per metric ton; a break above could open a path toward 4,766–4,799 ringgit.
For more technical analyses, click TECH/C SINGAPORE, Oct 16 (Reuters) — Palm oil may retest a resistance at 4,732 ringgit per metric ton, a break above could open the way toward the 4,766-4,799 ringgit range. A wedge is taking shape. After stabilizing around the lower trendline, the market bounced sharply toward the up