On the daily chart, a spinning top formed around a support at 3,274 ringgit on Monday. Even though it proved to be a failed reversal signal, it does suggest the fall is ending.
The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed 3.6% higher, or 8 ringgit, at 3,536 ringgit ($870.72).
Palm tracked higher prices of soyoil on the CBOT, up 2.2%, as Argentine soymeal exports stalled due to labour strikes.