Markets
Palm oil neutral in 3,083-3,138 ringgit/T range
SINGAPORE : Malaysian palm oil remains temporarily neutral in a range of 3,083-3,138 ringgit per tonne.
Based on the
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Based on the range, a rise above 3,138 ringgit will open the way towards 3,194 ringgit. If palm oil rises to 3,194 ringgit, it would confirm a further gain towards 3,230 ringgit.
While a fall below 3,083 ringgit will extend to 3,027 ringgit, but only a deep drop below the July 6 low of 3,016 ringgit could confirm the resumption of a medium-term downtrend.
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Copyright Reuters, 2011