FCPO
FCPO 3rd Month Futures (PM) - 21 Nov 2024
Thu, 21-Nov-2024 02:20 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4712
Resistance
4712 / 4784 / 4780 / 4805
Support
4660 / 4638 / 4611 / 4583
Possible Range
4650 to 4750
Strategy
Long positions may be opened above 4695 with targets 4712/4748 at stop-loss at 4675
Short positions may be opened below 4695 with targets at 4660/4638 stop-loss at 4715

FCPO Feb month dropped 140 points or 2.91% to closed lower at 4675 on midday session. Malaysian crude palm oil futures dropped over 3% during early Thursday trading, influenced by declines in competing vegetable oils.

Palm prices trading further lower on morning opening, the price see some recovery after touched the low at 4638. Latest price hovering at the bottom of the downward channel around 4670 to 4680, supported here consider buying, if fail to we might see the selling pressure continue. The immediate support and resistance levels are identified at 4660 and 4712, 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