FCPO
FCPO 3rd Month Futures (PM) - 22 Nov 2024
Fri, 22-Nov-2024 02:32 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4708
Resistance
4727 / 4746 / 4774 / 4805
Support
4680 / 4652 / 4633 / 4614
Possible Range
4670 to 4770
Strategy
Long positions may be opened above 4680 with targets 4708/4727 at stop-loss at 4660
Short positions may be opened below 4680 with targets at 4652/4633 stop-loss at 4700

FCPO Feb month dropped 81 points or 1.70% to closed lower at 4691 on midday session. Malaysian crude palm oil futures opened lower on Friday for the third straight session, heading towards a second consecutive weekly decline, weighed down by weakness in rival Dalian oils.

Palm prices trading within a downward channel with the price hovering at the bottom, we see the crucial support at 4680 to 4675, if supported above could remain buy plan, if fail to support the price could trigger selling pressure. The immediate support and resistance levels are identified at 4680 and 4727, 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