SINGAPORE: Palm oil may retest a support at 3,427 ringgit per tonne, as it has pierced below the Sept. 8 low of 3,481 ringgit.

The downtrend from 4,350 ringgit has resumed, riding on a wave 5.

Based on the magnitude of the wave 4, this wave 5 may travel to 3,050 ringgit.

Palm oil may drop toward 2,723 ringgit in Q4

Resistance is at 3,549 ringgit, a break above may lead to a gain into 3,608-3,666 ringgit range.