FCPO
FCPO 3rd Month Futures - 20 Nov 2024
Wed, 20-Nov-2024 08:09 am
by Dealing Team • Apex Futures

FCPO
Pivot
4944
Resistance
4973 / 4998 / 5027 / 5056
Support
4924 / 4891 / 4866 / 4840
Possible Range
4880 to 4980
Strategy
Long positions may be opened above 4945 with targets 4973/4998 at stop-loss at 4925
Short positions may be opened below 4945 with targets at 4924/4891 stop-loss at 4965

FCPO Feb month contract rose 25 points or 0.51% to close higher at 4944. Malaysian crude palm oil futures ended higher on Tuesday, driven by bargain hunting and a rebound in the Dalian palm olein market.

Overnight Soybean oil Dec Month dropped 0.68 to close lower at 44.84 Dalian’s active palm oil contract dropped rose 112 points to close higher at 9988 on previous night session.

Tracking mixed performance in rival oil market, the palm prices likely to trading within a range of sideway consolidation, latest price hovering above middle of the range at 4925 to 4920, standing above could remain buying plan, if fail to support could see selling pressure. The immediate support and resistance levels are pinpointed at 4924 and 4973, 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