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News Admin
 
Date
 22/04/2021
News Provider
 Nur Aisha Abd.Wahab
News Source
 Business Recorder
Headline
 Palm oil neutral in 3,761-3,844 ringgit range

Business Recorder (21/04/2021) - INGAPORE: Palm oil looks neutral in a range of 3,761-3,844 ringgit per tonne, and an escape could suggest a direction.

A break above 3,844 ringgit could lead to a gain into a zone of 3,926-4,028 ringgit, while a break below 3,761 ringgit could cause a fall to 3,659 ringgit.


The bias could be towards the upside, as the contract has broken a falling trendline. On the daily chart, the big white candlestick on Tuesday looks very bullish. It suggests a further gain on Wednesday.


A high-low bottom developing above a rising trendline has taken shape. It confirms a completion of the drop from 4,192 ringgit and the continuation of the uptrend.


Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.


Read more at https://www.brecorder.com/news/40086393/palm-oil-neutral-in-3761-3844-ringgit-range



ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533