FCPO
FCPO 3rd Month Futures (PM) - 18 Nov 2024
Mon, 18-Nov-2024 02:09 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4969
Resistance
4995 / 5021 / 5041 / 5060
Support
4969 / 4950 / 4930 / 4905
Possible Range
4940 to 5040
Strategy
Long positions may be opened above 4970 with targets 4995/5021 at stop-loss at 4950
Short positions may be opened below 4970 with targets at 4950/4930 stop-loss at 4990

FCPO Feb month dropped 71 points or 1.41% to closed lower at 4982 on midday session. Malaysian crude palm oil futures declined in early Monday trading, weighed down by weaker performance in rival Dalian oils and the impact of a stronger ringgit.

Palm prices likely to trading in upward channel consolidation however the price latest pointing to downward bias, potentially trading further lower if breaking 4970 to 4965 but limited. Alternatively, if price supported, we could see buying opportunity. The immediate support and resistance levels are identified at 4969 and 4995, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.449296 4.484012
EUR 4.692599 4.701308
CNY 0.615732 0.616932
HKD 0.571606 0.576092
SGD 3.310067 3.336427