<div class=newsTextDataWrapInner><p>SINGAPORE (Nov 18): Palm oil is expected to rise to 2,253 ringgit per tonne, as it has broken a resistance at 2,225 ringgit.</p></div>

<div class=newsTextDataWrapInner><p>The resistance was at the 50 percent Fibonacci retracement on the rise from the Oct. 16 low of 2,104 ringgit to the Nov. 3 high 2,345 ringgit. The next resistance will be at 2,253 ringgit, the 38.2 percent level.</p></div>

<div class=newsTextDataWrapInner><p>Wave pattern suggests palm oil is riding on a wave c, the third wave of a three-wave cycle that developed from 2,104 ringgit. This wave is expected to totally reverse the preceding wave a that fell from 2,345 ringgit.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>A drop to 2,215 ringgit could signal the break above 2,225 ringgit was false.</p></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 18): Palm oil is expected to rise to 2,253 ringgit per tonne, as it has broken a resistance at 2,225 ringgit.

The resistance was at the 50 percent Fibonacci retracement on the rise from the Oct. 16 low of 2,104 ringgit to the Nov. 3 high 2,345 ringgit. The next resistance...

Palm oil to rise to 2,253 ringgit

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<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


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<p>Malaysia Airlines has commenced the gradual reinstatement of flights to and from Sabah, Sarawak and Labuan since the evening of April 18, in response to prevailing weather conditions.</p>
