FCPO
FCPO 3rd Month Futures (PM) - 8 Oct 2024
Tue, 08-Oct-2024 02:06 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4317
Resistance
4317 / 4339 / 4358 / 4380
Support
4277 / 4255 / 4236 / 4219
Possible Range
4250 to 4350
Strategy
Long positions may be opened above 4300 with targets 4317/4339 at stop-loss at 4280
Short positions may be opened below 4300 with targets at 4277/4255 stop-loss at 4320

FCPO Dec month dropped 55 points or 0.1.27% to closed lower at 4288 on midday session. Malaysian crude palm oil futures dropped on Tuesday, pressured by a decrease in both Chicago soyoil and crude oil prices. 

Palm prices open lower tracking the sell down in rival edible oil market, we anticipate market to remain in downside bias if trading below 4320 to 4325 range, breaking up above the range could see another upside bias. The immediate support and resistance levels are identified at 4277 and 4317, 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