Palm oil still targets 3,602 ringgit per tonne, as its bounce looks incomplete.
A retracement analysis on the downtrend from 4,525 ringgit to 3,251 ringgit suggests a target zone of 3,552 ringgit to 3,738 ringgit, which engulfs 3,602 ringgit.
Support is at 3,351 ringgit, a break below could cause a fall into the 3,195-3,273 ringgit range.
Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.
