SINGAPORE (May 31): Palm oil may retest a resistance at RM2,111 per tonne, a break above which could lead to a gain to RM2,148. The resistance is identified as the 76.4% projection level of an upward wave C from RM1,993. On the daily chart, palm oil is climbing towards a key resistance at RM2,144, the 100% projection level of a downtrend from RM2,896. 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.)

Source: The Edge Markets May 31, 2019 02:48 UTC