FCPO
FCPO 3rd Month Futures (PM) - 13 Nov 2024
Wed, 13-Nov-2024 01:37 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4953
Resistance
4925 / 4953 / 4976 / 5000
Support
4908 / 4889 / 4867 / 4844
Possible Range
4840 to 4940
Strategy
Long positions may be opened above 4925 with targets 4953/4976 at stop-loss at 4905
Short positions may be opened below 4925 with targets at 4908/4889 stop-loss at 4945

FCPO Jan month dropped 114 points or 2.27% to closed lower at 4912 on midday session. Malaysian palm oil futures fell for a second consecutive session on Wednesday, pressured by declines in the prices of competing vegetable oils in Dalian and Chicago.

Palm prices could remain trading in downward bias, with sell on rebound remain the main strategy, fail to break above 4925 to 4935 could provide selling opportunity. The immediate support and resistance levels are identified at 4908 and 4925, 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