The Edge Markets (06/03/2018) - SINGAPORE (March 6): Palm oil may retest a support at 2,448 ringgit per tonne, a break below which could cause a loss to the next support at 2,418 ringgit.

The first support is identified as the 86.4 percent retracement on the uptrend from the 2,418 ringgit to 2,641 ringgit.

The bounce triggered by the support is regarded as a pullback towards a rising trendline. The downtrend will remain intact as long as palm oil stays below 2,418 ringgit.

A break above 2,418 ringgit could open the way towards 2,503 ringgit. - Reuters

Read more at http://www.theedgemarkets.com/article/palm-oil-may-retest-support-2448-ringgit