NewsSignals AI analysis·Reuters·Nov 2, 2026

Palm oil may bounce further into 4,716-4,744 ringgit range

Grade Bbullish AI signal

Palm oil futures may extend their rebound toward 4,716–4,744 ringgit per metric ton, according to channel and retracement analysis, although the move remains counter to the broader downtrend. A bullish piercing pattern formed on the daily chart, with resistance targets extending to 4,771 ringgit and support positioned at 4,653 ringgit. A break above 4,771 ringgit could signal a broader uptrend extension, while a drop below 4,653 ringgit may expose the 4,597–4,632 ringgit range.

Bullish strength: 60/100

Technical analysis projects a possible rebound toward 4,716–4,744 ringgit.
A bullish piercing pattern formed between October 29 and October 30.
The market briefly moved above the 38.2% retracement level of 4,688 ringgit.

Bearish strength: 40/100

The current rebound is considered a move against the downtrend from 4,834 ringgit.
A break below 4,653 ringgit could expose support in the 4,597–4,632 ringgit range.
A move above 4,771 ringgit is needed to suggest an extension of the uptrend from 4,491 ringgit.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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