<div class=newsTextDataWrapInner>SINGAPORE (Jan 13): Palm oil is expected to test a resistance at 3,169 ringgit per tonne, with a good chance of breaking above this level and gaining more towards the next resistance at 3,219 ringgit.</div>

<div class=newsTextDataWrapInner>These resistances are identified respectively as the 114.6% and the 123.6% Fibonacci projection levels of an upward wave C, the third wave of a three-wave cycle from the July 12, 2016 low of 2,186 ringgit.</div>

<div class=newsTextDataWrapInner>A break above 3,169 ringgit will confirm not only a target at 3,219 ringgit, but also a bullish wedge, which suggests a higher target at 3,299 ringgit. Support is at 3,128 ringgit, a break below which could cause a loss to 3,089 ringgit. - by Wang Tao, Reuters</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>(Wang Tao is a Reuters market analyst for commodities and energy technicals. The views expressed are his own. 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.)</div>

SINGAPORE (Jan 13): Palm oil is expected to test a resistance at 3,169 ringgit per tonne, with a good chance of breaking above this level and gaining more towards the next resistance at 3,219 ringgit.

These resistances are identified respectively as the 114.6% and the 123.6% Fibonacci p...

Palm oil may break resistance at 3,169 ringgit

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Iran’s foreign minister compared the drones used in an attack by Israel early Friday to “toys”, in comments that aimed at downplaying the significance of the strike on Iranian territory. &nbsp;

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The Malaysian Communications and Multimedia Commission (MCMC) has lodged police reports against three individuals, namely Badrul Hisham Shaharin or Chegubard, Mohamad Salim Iskandar (Salim Iskandar) and Wan Muhammad Azri Wan Deris (Papagomo), for making and spreading false accusations about its officers.

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