<div class=newsTextDataWrapInner>SINGAPORE (Jan 24): Palm oil looks neutral in a range of 3,089-3,169 ringgit per tonne, and an escape could suggest a direction.</div>

<div class=newsTextDataWrapInner>The range is formed by the 100% and the 114.6% Fibonacci projection levels of an upward wave C from the Oct 6, 2016 low of 2,538 ringgit. A break below 3,089 ringgit could cause a loss to 3,014 ringgit.</div>

<div class=newsTextDataWrapInner>However, the bias seems to be towards the upside, as palm oil approaches the resistance at 3,169 ringgit again, following its two failures to overcome this barrier. The contract may succeed in breaking above 3,169 ringgit this time.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>A break will definitely open the way towards the range of 3,219-3,299 ringgit. - by Wang Tao, Reuters</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 24): Palm oil looks neutral in a range of 3,089-3,169 ringgit per tonne, and an escape could suggest a direction.

The range is formed by the 100% and the 114.6% Fibonacci projection levels of an upward wave C from the Oct 6, 2016 low of 2,538 ringgit. A break below 3,089 ...

Palm oil neutral in 3,089-3,169 ringgit range

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Topmix Bhd, a surface decorative company listed on Tuesday, expects its expansion in the northern region of Peninsular Malaysia to boost its earnings growth.

The northern region, particularly Penang, has seen an influx of foreign investors, leading to higher income levels and rapid development of housing and commercial projects, which all “bode well for Topmix’s expansion plans", said managing director Teo Quek Siang.