FCPO
FCPO 3rd Month Futures (PM) - 28 Nov 2024
Thu, 28-Nov-2024 02:09 pm
by Dealing Team • Apex Futures

FCPO
Pivot
4802
Resistance
4826 / 4851 / 4875 / 4898
Support
4780 / 4754 / 4729 / 4705
Possible Range
4750 to 4850
Strategy
Long positions may be opened above 4802 with targets 4826/4851 at stop-loss at 4782
Short positions may be opened below 4802 with targets at 4780/4754 stop-loss at 4782

FCPO Feb month rose 6 points or 0.13% to closed higher at 4804 on midday session. Malaysia's crude palm oil futures closed higher for the third consecutive day on Wednesday. Palm oil traders noted that concerns over the slow pace of production are sustaining positive market sentiment.

Palm prices in morning session continue to pull back to intraday low at 4752, which is the previous crucial resistant range and moving upward, indicate the price supported for upside. The price latest remains hovering at the resistant range of the downward channel at 4795 to 4800, potential moving further higher if breaking above. The immediate support and resistance levels are identified at 4780 and 4826, respectively. 

(News Source: Bernama)

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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