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News Admin
 
Date
 04/05/2021
News Provider
 Siti Safura Masiron
News Source
 www.brecorder.com
Headline
 Palm oil may rise into 3,967-4,010 ringgit range


03.05.2021 (www.brecorder.com) –




  • A break below 3,855 ringgit could open the way towards the zone of 3,743-3,805 ringgit.



SINGAPORE: Palm oil may stabilise around a support at 3,855 ringgit per tonne, and rise into a range of 3,967-4,010 ringgit.



The support triggered a strong rise on April 26. It may cause another one.



Increasing the chance of a rise is the strong surge of grains on April 30, which may have a deep impact on palm oil prices.



A break below 3,855 ringgit could open the way towards the zone of 3,743-3,805 ringgit.



On the daily chart, a projection analysis reveals a similar support at 3,856 ringgit, which works together with the one on the hourly chart to stop a further fall.



The uptrend looks intact. It my eventually extend into 4,301-4,576 ringgit range.



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.



https://www.brecorder.com/news/40089771/palm-oil-may-rise-into-3967-4010-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