FCPO
FCPO 3rd Month Futures (PM) - 19 Nov 2024
Tue, 19-Nov-2024 02:07 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4923
Resistance
4976 / 4998 / 5026 / 5057
Support
4952 / 4923 / 4900 / 4874
Possible Range
4930 to 5030
Strategy
Long positions may be opened above 4952 with targets 4976/4998 at stop-loss at 4932
Short positions may be opened below 4952 with targets at 4923/4900 stop-loss at 4972

FCPO Feb month rose 77 points or 1.57% to closed higher at 4976 on midday session. Malaysian palm oil futures climbed on Tuesday, driven by gains in Chicago soyoil, as traders anticipated export data from cargo surveyors.

Palm prices trading in upward bias within a sideway consolidation, with the price likely to continue moving upward toward next resistant at 5000 to 4995, if breaking above could see further higher. Otherwise, the price will resistant at the range and continue the sideway by trading lower. The immediate support and resistance levels are identified at 4952 and 4998, 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