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A South China Morning Post chart analysis says the ringgit is nearing a base after falling from about 4.47 per US dollar in 2015-16 and 2017-18. The currency is near Fibonacci 38% retracement support and looks oversold.
The analysis expects it to consolidate around 3.85 per dollar.
This is routine technical commentary on the ringgit with no new fundamental driver. It has little bearing on feed or grain prices.
scmp.comNicole ElliottApr 9, 2018Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
