FCPO
FCPO 3rd Month Futures (PM) - 25 Nov 2024
Mon, 25-Nov-2024 01:31 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4715
Resistance
4744 / 4763 / 4786 / 4805
Support
4715 / 4695 / 4675 / 4653
Possible Range
4690 to 4790
Strategy
Long positions may be opened above 4715 with targets 4744/4763 at stop-loss at 4695
Short positions may be opened below 4715 with targets at 4695/4675 stop-loss at 4735

FCPO Feb month rose 90 points or 1.94% to closed higher at 4732 on midday session. Malaysian crude palm oil futures started higher on Monday, rebounding after three straight sessions of losses, supported by gains in rival vegetable oils.

Palm prices trading within a sideway consolidation channel, with the price latest hovering above the middle of the range, 4695 to 4700, trading above this line could remain buying plan, if breaking 4745 to 4750 (see as the top of the sideway range), it could go further higher to next resistant range. The immediate support and resistance levels are identified at 4715 and 4744, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.936314 3.966986
EUR 4.638033 4.641717
CNY 0.579004 0.579460
HKD 0.502535 0.505960
SGD 3.092229 3.113332