Palm oil may test support at 3,381 ringgit

SINGAPORE: Palm oil may retest a support at 3,381 ringgit per tonne, a break below which could cause a fall to 3,300 ringgit.

The contract failed three times to break a resistance at 3,474 ringgit, around which a triple-top could be developing, suggesting a target of 3,221 ringgit.

A break above 3,426 ringgit may lead to a gain to 3,474 ringgit.

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