FCPO
FCPO 3rd Month Futures (PM) - 6 Nov 2024
Wed, 06-Nov-2024 01:57 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4817
Resistance
4854 / 4869 / 4888 / 4910
Support
4817 / 4800 / 4782 / 4766
Possible Range
4780 to 4880
Strategy
Long positions may be opened above 4835 with targets 4854/4869 at stop-loss at 4815
Short positions may be opened below 4835 with targets at 4817/4800 stop-loss at 4855

FCPO Jan month rose 28 points or 0.58% to closed higher at 4834 on midday session. Malaysian crude palm oil futures edged up on Wednesday midday session, supported by weaker ringgit and anticipation of slower output.

Palm prices likely to remain trading within sideway consolidation with upside bias as the price broke up the resistant at 4820 to 4825, potentially see further higher toward next resistant range. The immediate support and resistance levels are identified at 4817 and 4854, 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