FCPO
FCPO 3rd Month Futures (PM) - 7 Oct 2024
Mon, 07-Oct-2024 02:04 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4275
Resistance
4306 / 4325 / 4348 / 4370
Support
4275 / 4256 / 4237 / 4218
Possible Range
4230 to 4330
Strategy
Long positions may be opened above 4275 with targets 4306/4325 at stop-loss at 4255
Short positions may be opened below 4275 with targets at 4256/4237 stop-loss at 4295

FCPO Dec month dropped 14 points or 0.33% to closed lower at 4286 on midday session. Malaysian crude palm oil futures fell by over 1% on Monday as traders reacted to declines in both Chicago soyoil and crude oil prices.

Palm prices open lower and trade in upward momentum, we anticipate sideway consolidation for next session, with lowest today could be the lower range while highest likely to be at 4300 to 4305, breaking either side could move toward the direction, The immediate support and resistance levels are identified at 4275 and 4306, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.967989
EUR 4.615974 4.625491
CNY 0.577616 0.578239
HKD 0.502266 0.506322
SGD 3.083269 3.108163