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Based on the price difference between the head and the neckline, palm oil is expected to pierce below 3,050 ringgit, the 61.8 percent Fibonacci retracement on the rise from 2,914 ringgit to 3,270 ringgit. A rebound from the current level will be limited to 3,135 ringgit. No information in this analysis should be considered as being business, financial or legal advice. 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.