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Palm Seen Dropping to Four-Year Low on MACD: Technical Analysis

Palm, the most-consumed cooking oil, will probably slump as much as 21 percent in the next three months to the lowest level in four years, according to technical analysis by TransGraph Consulting Pvt.

The most-active contract on the Malaysia Derivatives Exchange may decline to 1,900 ringgit ($614) a metric ton as the moving average convergence-divergence indicator signals weakness on the monthly chart, said Ravi Chandra, vice president of Hyderabad, India-based TransGraph.