Palm oil to gain more to 3,240 ringgit/T

SINGAPORE: Malaysian palm oil may rise more to 3,240 ringgit per tonne, as it has stood above the upper channel line of a rising channel.

The wave pattern has been relabeled, with an upward wave "c" progressing towards the upper channel line of an upper channel which was duplicated from the lower channel.

Support is at 3,080 ringgit, a fall below which will signal the break above the middle channel line is unsuccessful.

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