Palm oil remains neutral in 4,676-4,751 ringgit range

SINGAPORE: Palm oil remains neutral in a range of 4,676-4,751 ringgit per tonne, and an escape could suggest a direction.

The range is formed by the 76.4% and the 61.8% projection levels of an uptrend from 4,298 ringgit.

A break above 4,751 ringgit could lead to a gain to 4,812 ringgit, while a break below 4,676 ringgit could open the way towards 4,591-4,625 ringgit range.

A falling trendline suggests a downside bias.

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