AGL 38.41 Increased By ▲ 0.26 (0.68%)
AIRLINK 129.00 Increased By ▲ 3.93 (3.14%)
BOP 7.33 Increased By ▲ 0.48 (7.01%)
CNERGY 4.56 Increased By ▲ 0.11 (2.47%)
DCL 8.20 Increased By ▲ 0.29 (3.67%)
DFML 38.66 Increased By ▲ 1.32 (3.54%)
DGKC 80.20 Increased By ▲ 2.43 (3.12%)
FCCL 31.98 Increased By ▲ 1.40 (4.58%)
FFBL 73.10 Increased By ▲ 4.24 (6.16%)
FFL 12.28 Increased By ▲ 0.42 (3.54%)
HUBC 110.00 Increased By ▲ 5.50 (5.26%)
HUMNL 13.90 Increased By ▲ 0.41 (3.04%)
KEL 5.01 Increased By ▲ 0.36 (7.74%)
KOSM 7.45 Increased By ▲ 0.28 (3.91%)
MLCF 37.81 Increased By ▲ 1.37 (3.76%)
NBP 70.50 Increased By ▲ 4.58 (6.95%)
OGDC 188.70 Increased By ▲ 9.17 (5.11%)
PAEL 25.10 Increased By ▲ 0.67 (2.74%)
PIBTL 7.32 Increased By ▲ 0.17 (2.38%)
PPL 151.75 Increased By ▲ 8.05 (5.6%)
PRL 25.05 Increased By ▲ 0.73 (3%)
PTC 17.20 Increased By ▲ 0.80 (4.88%)
SEARL 81.56 Increased By ▲ 2.99 (3.81%)
TELE 7.49 Increased By ▲ 0.27 (3.74%)
TOMCL 32.94 Increased By ▲ 0.97 (3.03%)
TPLP 8.45 Increased By ▲ 0.32 (3.94%)
TREET 16.61 Increased By ▲ 0.48 (2.98%)
TRG 56.55 Increased By ▲ 1.89 (3.46%)
UNITY 27.97 Increased By ▲ 0.47 (1.71%)
WTL 1.36 Increased By ▲ 0.07 (5.43%)
BR100 10,474 Increased By 384.6 (3.81%)
BR30 30,967 Increased By 1457.8 (4.94%)
KSE100 97,894 Increased By 3319.6 (3.51%)
KSE30 30,533 Increased By 1088.6 (3.7%)

SINGAPORE: Palm oil may extend gains into a range of 3,864-3,934 ringgit per tonne, driven by a wave C. The strong rise on Tuesday confirmed this wave, which is capable of travelling into a wide range of 3,864-4,007 ringgit.

The contract may fail to break 3,864 ringgit in its first attempt, which would be a strong resistance, working together with a similar one established by a short trendline.

Support is at 3,750 ringgit, a break below which could open the way towards 3,680 ringgit.

Palm oil may retest support at 3,577 ringgit

On the daily chart, a projection analysis on the uptrend from 3,500 ringgit reveals its close relation to the preceding trend from 3,220 ringgit.

The analysis suggests the progress of a big wave C, which may travel above 3,988 ringgit.

Comments

Comments are closed.