FCPO
FCPO 3rd Month Futures (PM) - 22 Oct 2024
Tue, 22-Oct-2024 01:57 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4329
Resistance
4350 / 4369 / 4388 / 4408
Support
4329 / 4308 / 4283 / 4259
Possible Range
4300 to 4400
Strategy
Long positions may be opened above 4329 with targets 4350/4369 at stop-loss at 4309
Short positions may be opened below 4329 with targets at 4308/4283 stop-loss at 4349

FCPO Dec month rose 44 points or 1% to closed higher at 4343 on midday session. Malaysian crude palm oil futures opened higher on Tuesday, boosted by stronger Dalian counterparts and a weaker ringgit.

Palm prices remain trading within a sideway consolidation with upside bias a seems supported as it breaks beyond the middle of the range at 4300. Trader may look to buy on retracement. Breaking above 4350 could see further higher. The immediate support and resistance levels are identified at 4329 and 4350, 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