Palm oil may break a support at 2,546 ringgit per tonne and fall more into a range of 2,505-2,530 ringgit, according to technical analysis by Wang Tao, a Reuters market analyst for commodities and energy technicals.
SINGAPORE: Malaysian palm oil futures extended gains on Thursday, climbing to the highest in more than two weeks with prices underpinned by strong demand of the vegetable oil.
A weaker Malaysian ringgit, which makes palm oil cheaper for importers holding other currencies, also fuelled gains in prices of the tropical oil, traders said.
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