FCPO
FCPO 3rd Month Futures - 17 Oct 2024
Thu, 17-Oct-2024 02:00 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4300
Resistance
4317 / 4336 / 4353 / 4367
Support
4282 / 4265 / 4251 / 4238
Possible Range
4240 to 4340
Strategy
Long positions may be opened above 4300 with targets 4317/4336 at stop-loss at 4280
Short positions may be opened below 4300 with targets at 4282/4265 stop-loss at 4320

FCPO Dec month dropped 19 points or 0.44% to closed lower at 4292 on midday session. Malaysian crude palm oil futures moved sideways on Thursday, pressured by declines in Chicago soyoil and crude oil prices overnight.

Palm prices remain trading in the sideway consolidation range, seems supported, we anticipate the market to trade in downward bias, trading below 4300 could see selling opportunity, downside could be limited. The immediate support and resistance levels are identified at 4282 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