<div class=newsTextDataWrapInner><p>SINGAPORE (Feb 24): Palm oil may bounce to a resistance at RM2,827 per tonne, as it has found a support at RM2,750.</p></div>

<div class=newsTextDataWrapInner><p>The resistance and the support are provided respectively by the 200% and the 261.8% Fibonacci projection levels of a downward wave 3 from the Feb 15 high of RM3,075.</p></div>

<div class=newsTextDataWrapInner><p>The bullish divergence on the hourly MACD suggests the wave 3 may have completed. The current bounce could be as big as the one from the Feb 14 low of RM3,011.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>A break below RM2,750 could open the way towards RM2,703.</p></div>

<div class=newsTextDataWrapInner><p><span style=&quot;font-size:12px;&quot;><em>(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.)</em></span></p></div>

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SINGAPORE (Feb 24): Palm oil may bounce to a resistance at RM2,827 per tonne, as it has found a support at RM2,750.

The resistance and the support are provided respectively by the 200% and the 261.8% Fibonacci projection levels of a downward wave 3 from the Feb 15 high of RM3,075.
...

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