ANL 12.55 Decreased By ▼ -0.59 (-4.49%)
ASC 12.21 Decreased By ▼ -0.09 (-0.73%)
ASL 13.28 Decreased By ▼ -0.16 (-1.19%)
BOP 8.55 Increased By ▲ 0.14 (1.66%)
BYCO 5.90 Decreased By ▼ -0.10 (-1.67%)
FCCL 17.52 Decreased By ▼ -0.33 (-1.85%)
FFBL 23.80 Decreased By ▼ -0.31 (-1.29%)
FFL 10.01 Decreased By ▼ -0.14 (-1.38%)
FNEL 9.23 Decreased By ▼ -0.29 (-3.05%)
GGGL 14.74 Increased By ▲ 0.64 (4.54%)
GGL 26.36 Increased By ▲ 0.20 (0.76%)
HUMNL 5.85 Increased By ▲ 0.11 (1.92%)
JSCL 15.00 No Change ▼ 0.00 (0%)
KAPCO 31.40 Increased By ▲ 0.15 (0.48%)
KEL 3.32 Decreased By ▼ -0.05 (-1.48%)
MDTL 2.08 Decreased By ▼ -0.02 (-0.95%)
MLCF 32.44 Decreased By ▼ -1.16 (-3.45%)
NETSOL 94.68 Increased By ▲ 3.73 (4.1%)
PACE 4.05 Decreased By ▼ -0.10 (-2.41%)
PAEL 21.00 Increased By ▲ 0.30 (1.45%)
PIBTL 7.35 Decreased By ▼ -0.05 (-0.68%)
POWER 6.25 Decreased By ▼ -0.19 (-2.95%)
PRL 12.29 Increased By ▲ 0.13 (1.07%)
PTC 8.62 Decreased By ▼ -0.06 (-0.69%)
SILK 1.19 No Change ▼ 0.00 (0%)
SNGP 37.84 Increased By ▲ 0.04 (0.11%)
TELE 15.55 Increased By ▲ 1.20 (8.36%)
TRG 93.71 Increased By ▲ 6.53 (7.49%)
UNITY 22.98 Increased By ▲ 1.02 (4.64%)
WTL 2.07 Increased By ▲ 0.04 (1.97%)
BR100 4,487 Increased By ▲ 14.3 (0.32%)
BR30 17,781 Increased By ▲ 186.4 (1.06%)
KSE100 43,847 Decreased By ▼ -6.6 (-0.02%)
KSE30 17,049 Increased By ▲ 43.7 (0.26%)

Coronavirus
LOW
Source: covid.gov.pk
Pakistan Deaths
28,793
924hr
Pakistan Cases
1,287,703
31024hr
Sindh
477,119
Punjab
443,610
Balochistan
33,514
Islamabad
107,989
KPK
180,471

SINGAPORE: Palm oil may break a support at 4,902 ringgit per tonne, and fall to the next support at 4,827 ringgit.

The contract is riding on a wave c, which may travel into a wide range of 4,555 ringgit to 4,751 ringgit.

The bounce over the past two days seems to have ended around a resistance at 4,963 ringgit. Palm oil is poised to retest the support at 4,827 ringgit.

A break above 4,963 ringgit may lead to a gain limited to 5,024 ringgit. On the daily chart, signals are a bit mixed as the contract is stuck in a narrow range of 4,878-5,024 ringgit.

Given that the contract failed many times to break the resistance at 5,024 ringgit, it is likely to break below the support at 4,878 ringgit after the formation of three black candlesticks between Tuesday and Thursday.

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.

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.