FCPO
FCPO 3rd Month Futures (PM) - 15 Oct 2024
Tue, 15-Oct-2024 02:00 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4282
Resistance
4298 / 4314 / 4333 / 4353
Support
4262 / 4243 / 4227 / 4211
Possible Range
4200 to 4300
Strategy
Long positions may be opened above 4280 with targets 4298/4314 at stop-loss at 4260
Short positions may be opened below 4280 with targets at 4262/4243 stop-loss at 4300

FCPO Dec month dropped 38 points or 0.8% to closed lower at 4275 on midday session. Malaysian crude palm oil futures dropped again on Tuesday, extending their losses from the previous session. The decline was driven by weaker prices in rival oils and a drop in crude oil prices.

Palm prices currently moving within a wide-range of sideway consolidation, breaking below the support trend line at around 4265 to 4255 range could see further lower. The immediate support and resistance levels are identified at 4262 and 4298, 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