FCPO
FCPO 3rd Month Futures (PM) - 23 Oct 2024
Wed, 23-Oct-2024 02:07 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4458
Resistance
4495 / 4532 / 4553 / 4574
Support
4458 / 4437 / 4416 / 4387
Possible Range
4440 to 4540
Strategy
Long positions may be opened above 4475 with targets 44495/4532 at stop-loss at 4455
Short positions may be opened below 4475 with targets at 4458/4437 stop-loss at 4495

FCPO Dec month rose 104 points or 2.37% to closed higher at 4490 on midday session. Malaysian crude palm oil futures opened higher for the third consecutive session on Wednesday, supported by gains in rival oils and a weaker ringgit.

Palm prices supported firmly above 4440 and trading higher to reached the crucial resistant at 4500 range, we might see a further upside if supported above 4495 to 4500, next resistant to see at 4530 to 4535. Else today high price will serve as resistant and likely to see price trading within a consolidation range. Trader may look to buy on retracement. The immediate support and resistance levels are identified at 4458 and 4495, respectively.

(News Source: Reuters)

Read more details in:

Disclaimer

The report is for internal and private circulation only and shall not be reproduced either in part or otherwise without the prior written consent of Apex Securities Berhad. The opinions and information contained herein are based on available data believed to be reliable. It is not to be construed as an offer, invitation or solicitation to buy or sell the securities covered by this report.

Opinions, estimates and projections in this report constitute the current judgment of the author. They do not necessarily reflect the opinion of Apex Securities Berhad and are subject to change without notice. Apex Securities Berhad has no obligation to update, modify or amend this report or to otherwise notify a reader thereof in the event that any matter stated herein, or any opinion, projection, forecast or estimate set forth herein, changes or subsequently becomes inaccurate.

Apex Securities Berhad does not warrant the accuracy of anything stated herein in any manner whatsoever and no reliance upon such statement by anyone shall give rise to any claim whatsoever against Apex Securities Berhad. Apex Securities Berhad may from time to time have an interest in the company mentioned by this report. This report may not be reproduced, copied or circulated without the prior written approval of Apex Securities Berhad.

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