September 22 report:
1. Mean Deviation Change Table
| Difference Type | Today’s Value (2026.09.21) | Yesterday’s Value (2026.09.20) | Direction of Change |
|---|---|---|---|
| 5-Day Difference | -19.20 | -59.60 | + |
| 10-Day Difference | -38.00 | -17.00 | - |
| 20-Day Difference | -148.90 | -161.20 | + |
2. Signal Status Determination
Pullback (slightly bullish)
3. Trend Direction Conclusion
Oscillation. Reason: The change directions of the 5-day, 10-day, and 20-day moving averages compared to the previous day are (+, -, +), respectively. The change directions are not completely consistent, which meets the criteria for an oscillation trend.
4. Position Space Reference
Palm oil prices are at a medium-low level in the 60-day cycle, with limited short-term downside; in the 3-month cycle, prices are at a medium level, providing ample room for both bullish and bearish positions; in the 1-year cycle, prices are at a medium-high level, narrowing the long-term upside potential.
5. Trend Chart Display
Fundamental Reference
Supply side: In Malaysia, palm oil production from September 1 to 15 increased by 18.75% month-on-month, while export volume declined by 17.8% month-on-month; in Indonesia, affected by drought and wildfires, palm oil output in the fourth quarter is expected to fall by 12%–15%.
Inventory: As of September 11, 2026, China’s palm oil inventories stood at 920,000 tons, up 20,000 tons week-on-week, 60,000 tons month-on-month, and 270,000 tons year-on-year.
Risk Warning
The above analysis is for reference only and does not constitute trading advice.
