<div class=newsTextDataWrapInner><p>SINGAPORE (Nov 21): Palm oil is expected to rebound to 2,256 ringgit per tonne, as it will continue to consolidate within a triangle.</p></div>

<div class=newsTextDataWrapInner><p>After touching the lower trendline of the pattern, about 2,213 ringgit, palm oil has been bouncing up towards the upper trendline resistance around 2,256 ringgit.</p></div>

<div class=newsTextDataWrapInner><p>Wave pattern suggests the current bounce could be driven by a wave c, the third wave of a three-wave cycle that rose from the Nov. 7 low of 2,193 ringgit. A break below 2,213 ringgit, the 14.6 percent Fibonacci projection level, could confirm the triangle as a bearish pattern.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>** Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own.</p></div>

<div class=newsTextDataWrapInner><p>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. **</p></div>


SINGAPORE (Nov 21): Palm oil is expected to rebound to 2,256 ringgit per tonne, as it will continue to consolidate within a triangle.

After touching the lower trendline of the pattern, about 2,213 ringgit, palm oil has been bouncing up towards the upper trendline resistance around 2,256...

Palm oil to bounce to 2,256 ringgit

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