FCPO
FCPO 3rd Month Futures (PM) - 20 Nov 2024
Wed, 20-Nov-2024 02:05 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4912
Resistance
4912 / 4934 / 4955 / 4978
Support
4874 / 4855 / 4836 / 4805
Possible Range
4840 to 4940
Strategy
Long positions may be opened above 4895 with targets 4912/4934 at stop-loss at 4875
Short positions may be opened below 4895 with targets at 4874/4855 stop-loss at 4915

FCPO Feb month dropped 33 points or 0.67% to closed lower at 4891 on midday session. Malaysian crude palm oil futures declined on Wednesday, pressured by weakness in Chicago soyoil, though losses were limited by strength in Dalian oils.

Palm prices remain trading within a range of sideway consolidation and below the middle range at 4925 to 4920, potentially remain in downside bias trading, with sell on rebound could be main plan. Breaking below 4875 to 4870 could see further lower, bottom of sideway spotted at 4840 to 4835. The immediate support and resistance levels are identified at 4874 and 4912, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 4.455268 4.488135
EUR 4.716585 4.723137
CNY 0.616518 0.616862
HKD 0.572409 0.576643
SGD 3.318330 3.343262