SINGAPORE, Oct.6 (Reuters) - Malaysian palm oil <KPOc3> could rise to 2,750 ringgit per tonne, as an "a-b-c" corrective wave cycle is seen complete at 2,655 ringgit.
The wave "c" is confirmed over as it could be broken down into five small waves, with a failed wave "5" having ended at 2,655 ringgit.
The wave "4" top at 2,689 ringgit has been surpassed, signaling a possible bullish reversal at 2,655 ringgit.
Support is at 2,680 ringgit, a fall below which would violate the bullish outlook, and palm oil may return to 2,655 ringgit.
The wave "c" is confirmed over as it could be broken down into five small waves, with a failed wave "5" having ended at 2,655 ringgit.
The wave "4" top at 2,689 ringgit has been surpassed, signaling a possible bullish reversal at 2,655 ringgit.
Support is at 2,680 ringgit, a fall below which would violate the bullish outlook, and palm oil may return to 2,655 ringgit.
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