FCPO
FCPO 3rd Month Futures (PM) - 4 Nov 2024
Mon, 04-Nov-2024 02:07 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4862
Resistance
4881 / 4900 / 4916 / 4932
Support
4862 / 4847 / 4831 / 4812
Possible Range
4800 to 4900
Strategy
Long positions may be opened above 4862 with targets 4881/4900 at stop-loss at 4842
Short positions may be opened below 4862 with targets at 4847/4831 stop-loss at 4882

FCPO Dec month rose 1 point to closed almost flat at 4869 on midday session. Malaysian crude palm oil futures edged up on Monday, bolstered by gains in competing vegetable oils and crude prices, though a stronger ringgit limited the increase.

Palm prices likely to trading in sideway consolidation and potentially experience mild technical correction as uptrend remain intact, if break below 4845 to 4850, the price could correct further. If hold above the support could see buying opportunity. The immediate support and resistance levels are identified at 4862 and 4881, 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