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NEWS ADMIN

DATE

25/06/2019

NEWS PROVIDER

Nur Aisha Abd. Wahab

NEWS SOURCE

The Edge Markets

CATEGORY

HEADLINE

Palm oil may fall to 1,971 ringgit
The Edge Markets (25/06/2019) - SINGAPORE (June 25): Palm oil may fall to 1,971 ringgit per tonne, as it has pierced below a support at 2,001 ringgit.

The support is provided by the 76.4% projection level of a downward wave C from 2,235 ringgit. A gap forming between June 21 and June 24 suggests a good chance of palm oil to break 2,001 ringgit and fall towards 1,971 ringgit.

A rise to the June 21 low of 2,021 ringgit could signal palm oil may retest the resistance at 2,046 ringgit. - Reuters

Read more at https://www.theedgemarkets.com/article/palm-oil-may-fall-1971-ringgit