Palm oil may test a support at 4,742 ringgit per tonne, as it could have completed a bounce from the recent low of 4,493 ringgit.
The bounce was driven by a wave 4, the fourth wave of a five-wave cycle from the May 27 high of 6,698 ringgit.
This wave will be reversed by the current wave 5. A rise above 4,952 ringgit may be extended to 5,086 ringgit.
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.