The Edge Markets (06/04/2018) - SINGAPORE (April 6): Palm oil may edge up to 2,498 ringgit per tonne, to complete a wave C.

This wave developed from the April 4 low of 2,383 ringgit. It is capable of travelling to 2,498 ringgit, its 100 percent projection level.

The contract has broken a resistance at 2,461 ringgit, the 38.2 percent retracement of the downtrend from 2,641 ringgit to 2,350 ringgit. The break has opened the way towards 2,496 ringgit, which is near 2,498 ringgit.

Support is at 2,454 ringgit, a break below which could cause a loss into the range of 2,427-2,441 ringgit. - Reuters

Read more at http://www.theedgemarkets.com/article/palm-oil-may-edge-2498-ringgit