FCPO
FCPO 3rd Month Futures (PM) - 25 Sep 2024
Wed, 25-Sep-2024 01:57 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4017
Resistance
4031 / 4045 / 4060 / 4074
Support
4002 / 3987 / 3971 / 3954
Possible Range
3950 to 4050
Strategy
Long positions may be opened above 4018 with targets 4031/4045 at stop-loss at 3998
Short positions may be opened below 4018 with targets at 4002/3987 stop-loss at 4038

FCPO Dec month rose 27 points or 0.68% to closed higher at 4015 on midday session. Malaysian crude palm oil futures extended their rally for a sixth consecutive session on Wednesday, driven by gains in rival Dalian edible oils, despite the pressure of a stronger ringgit.

Palm prices could potentially remain in sideway consolidation and trade in downside bias, break below the support range of 4000 to 4005 could see further selling. The immediate support and resistance levels are identified at 4002 and 4031, 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