23/04/2012 (Business Recorder) - Malaysian palm oil will end the rebound from its April 19 low of 3,439 ringgit in a 3,534-3,556 ringgit per tonne resistance zone.

The rebound has been triggered by the completion of a five-wave cycle on the fall to 3,439 ringgit from 3,628 ringgit, and is also considered a pullback towards the trendline that rose from the Feb. 2 low of 3,036 ringgit.

Both the five-wave cycle and a break below the trendline have indicated a bearish reversal of the preceding uptrend. As a result, there is a high chance the current rebound will end on Monday or Tuesday.

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.