# Palm oil may fall towards 3,738 ringgit - Markets - Business Recorder

> Technical analysis from Reuters suggests Malaysian palm oil may break support at 3,888 ringgit and fall toward 3,738 ringgit. The analysis points to a falling channel and a possible move into a 3,698-3,774 ringgit range.

- Date: 2021-06-01 · published 2021-06-01T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/6353-palm-oil-may-fall-towards-3-738-ringgit-markets-business-recorder
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Chart-based bearish signals indicate continued downside pressure on palm oil futures, but the analysis is routine price commentary without a new fundamental driver.

## Read by commodity

- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2021-06-01 | 1 | -7.2% | -5.2 | Dated 2021-06-01, the technical analysis flags a break of support and a falling channel, which can reinforce selling momentum, though it is more a symptom than a fundamental cause. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40096874

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.