FCPO
FCPO 3rd Month Futures (PM) - 20 Sep 2024
Fri, 20-Sep-2024 01:49 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3915
Resistance
3934 / 36952 / 3970 / 3986
Support
3915 / 3898 / 3881 / 3863
Possible Range
3850 to 3950
Strategy
Long positions may be opened above 3915 with targets 3934/3952 at stop-loss at 3895
Short positions may be opened below 3915 with targets at 3898/3881 stop-loss at 3935

FCPO Dec month rose 42 points or 1.08% to closed higher at 3937 on midday session. Malaysian crude palm oil futures climbed for the third consecutive session and were on track for a weekly gain on Friday, supported by strength in competing edible oils. However, the rise was limited by weaker crude oil prices and a stronger ringgit.

We remain our view that the palm price remains in sideway consolidation and seems supported, beware of any technical selling. The immediate support and resistance levels are identified at 3915 and 3934, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.939538 3.966364
EUR 4.621065 4.624861
CNY 0.577624 0.578108
HKD 0.502626 0.506063
SGD 3.082334 3.103499